Stada Saga Set To End As Board Backs Bain And Cinven Bid
The equity firms finally look like getting their hands on the German generics group as Stada urges shareholders to back the €4.1bn deal and only 63% need to support it.
You may also be interested in...
Emergent reveals acquisition of GSK's anthrax therapy raxibacumab days after a vaccine deal with Sanofi. Telix licenses PSMA antibodies from Abzena, while PeptiDream and Kleo sign an immuno-oncology pact.
Stada is likely to approve a second takeover bid from equity groups Bain and Cinven soon, at a new price of €66.25 per share; an offer cleared by Germany's stock market authorities despite a ban in the country on repeat acquisition bids within 12 months.
In a surprising twist, Stada investors have not rallied behind a €5.3bn takeover bid from equity groups Bain and Cinven; analysts are baffled as to why the deal didn’t win enough support and what Stada's shareholders are hoping for now.