Due to market rumors, German generic drugmaker Stada Arzneimittel (SAZ: Xetra) has confirmed that it has received two legally non-binding expressions of interest regarding a bid for the acquisition of up to 100% of the shares in the company,
One of these is from private equity firm Cinven Partners LLP at an indicative takeover price of 56.00 euros per Stada share. Other companies reportedly following the situation closely and could make a bid are Advent, Bain Capital, CVC and Permira, according to the Financial Times, which also said that the Cinven bid was worth around 3.6 billion euros (~$3.8 billion).
Stada’s shares were up 14.60% at 56.95 euros shortly after markets opened this morning.
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