Stada Arz likely to accept Bain-Cinven's formal takeover offer

3 May 2017
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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.

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