German generic drugmaker Stada Arzneimittel (SAZ: Xetra) says it has now received the full offer document for the company’s acquisition that was announced on April 10, which it believes is acceptable.
Nidda Healthcare Holding AG, the acquiring company of private equity groups Bain Capital and Cinven, is offering 65.28 euros per Stada share. In addition, Stada’s shareholders are to participate in the dividend of 0.72 euros per Stada share proposed by the executive board and the supervisory board for the fiscal year ending December 31, 2016.
If closing of the offer takes place before the date of the 2017 Annual General Meeting, the offer price will be increased by 0.72 euros per Stada share to 66.00 euros. If not, the shareholders will receive the dividend from the company. In the offer document the bidder discloses certain intentions regarding Stada as already outlined in the investor agreement signed by Stada and the bidder which includes specific commitments by the bidder benefitting Stada’s employees, sites and the corporate strategy.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze