UPDATE 1-Bidders for Germany’s Aareal Bank lower acceptance threshold

* Deal faces opposition from major shareholders

* Offer extended to Feb 2 from Jan 19

* Acceptance rate lowered to 60% from 70% (Adds detail, background)

FRANKFURT, Jan 18 (Reuters) – Bidders for Germany’s Aareal Bank on Tuesday lowered the threshold for acceptance of their offer, giving investors a further two weeks to decide as the suitors try to overcome opposition to the proposed $1.9 billion takeover.

By Monday evening fewer than 5% of investors had accepted the offer, far short of the 70% the consortium was seeking ahead of a Wednesday deadline.

The buyout group, which includes United States-based Advent International and Centerbridge Partners, is now seeking 60% acceptance by Feb. 2.

The bidders have offered 29 euros a share, valuing the German real estate lender at 1.7 billion euros ($1.93 billion).

Management supports the deal but big investors, including Petrus Advisers and Teleios, are unhappy with the price. ($1 = 0.8807 euros) (Reporting by Tom Sims and Alexander Huebner Editing by David Goodman)

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