BERLIN (Reuters) – Shares in Deutsche Euroshop jumped 31.2% in Lang & Schwarz pre-market trade on Monday after a consortium of bidders offered 1.4 billion euros ($1.48 billion) to acquire the German shopping centre investor.

Hercules BidCo is offering 21.50 Euros per Share, which represents a 44% premium over Friday’s close share price.

Hercules Bidco is controlled by financial investor Oaktree Capital and Cura Vermoegensverwaltung, which is owned by Alexander Otto. Around one-fifth the Hamburg-based Deutsche Euroshop is owned by Otto.

($1 = 0.9436 euros)