Stada Arz opts to proceed with joint takeover from Bain Capital and Cinven
Shares of German generic drugmaker Stada Arzneimittel (SAZ: Xetra) leapt 11.5% to 64.72 euros this morning, after the company revealed it has made a decision on which of several takeover proposals it favored.
With a total value of 66.00 euros per Stada share, consisting of the offer price of 65.28 euros plus an expected dividend of 0.72 euros to be paid by Stada during the offer period, private equity firms Bain Capital and Cinven have presented the most financially appealing offer.
As well as Cinven and Bain Capital, Advent, CVC and Permira reportedly were also looking at buying Stada.
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