Bain, Cinven to Raise Stada Takeover Offer to 66.25 Eur/Shr

7/10/17

Stada said buyout groups Bain Capital and Cinven would sweeten their takeover offer for the German generic drugmaker by 25 cents per share to 66.25 euros after their previous 5.3 billion-euro ($6 billion) bid fell through.

The private equity groups will also lower their acceptance threshold to 63 percent, Stada said on Monday, after the last offer secured the support of 65.52 percent of shareholders, short of the 67.5 percent they had targeted.

Stada shares rose 1.2 percent to 65.30 euros by 0818 GMT, outperforming a 0.4 percent rise in the German mid-cap index.

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