Bidding war for Stada Arz intensifies, with third offer

German generic drugmaker Stada Arzneimittel (SAZ: Xetra) has confirmed receipt of another – third - legally non-binding conditional expression of interest regarding a bid for the acquisition of up to 100% of the shares in the company at an indicative takeover price of 58.00 euros per Stada share, or about 3.61 billion euros ($3.84 billion).

While Stada itself did not identify the name of the latest bidder, according to a report by Bloomberg, citing ‘people familiar with the matter,’ it is Bain Capital

Last week, Stada revealed it had received a bid from private equity firm Cinven Partners of 56.00 euros per share, and subsequently confirmed an approach from Advent International Corp, but did not reveal any offer price.