Stada Arz opens talks with bidders for the company
Having a day earlier confirmed it had received unsolicited takeover bids from two companies, the executive board of German generic drugmaker Stada Arzneimittel (SAZ: Xetra) has decided unanimously to start open-minded talks with both potential bidders for the acquisition of up to 100% of the shares in the company.
Both legally non-binding expressions of interest from private equity firm Cinven Partners and from Advent International Corp, which the executive board considered for some time, could offer in different ways attractive opportunities in the interest of the company.
The executive board has therefore started open-minded talks to allow the interested parties to explain their strategic concepts and evaluate further value-enhancing potential with regards to the potential offer price. Stada will keep both the capital markets and the public updated on tangible development in this regard, in line with the applicable legal requirements.
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