Buyout groups Bain Capital and Cinven have lowered the minimum acceptance threshold for their takeover offer for German drugmaker Stada‘s (STAGn.DE) shares, they said on Wednesday.
The tender offer for the agreed 5.3 billion euro ($5.95 billion) deal runs through June 8 and was conditional on securing 75 percent of Stada’s shares.
But Bain Capital and Cinven said in a statement on Wednesday they were cutting that threshold to 67.5 percent and extending the acceptance period until June 22.
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