Bain Capital and Cinven, through their Nidda Healthcare unit, have been cleared by German regulators to submit a renewed binding voluntary public takeover offer for all outstanding shares of Stada Arzneimittel (SAZ: Xetra), further to its previous bid failing to gain adequate shareholder support.
The German Federal Financial Supervisory Authority (BaFin) has approved the exemption from the one-year exclusion period for the submission of a renewed offer, which began after the termination of the published on June 27, unsuccessful takeover offer, with immediate effect. The offer documentation will be published at short notice.
Offer upped from 66.00 euros to 66.25 and acceptance threshold cut to 63%
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