Stada Board Recommends Acceptance of Improved Takeover BidBy
LONDON — The German generic drugmaker Stada Arzneimittel said on Tuesday that its board of directors had recommended that shareholders accept a sweetened takeover bid by the private equity firms Bain Capitaland Cinven, the latest in a series of takeovers in the industry in recent years.
The deal, which valued Stada at $4.8 billion, came after a bid in June by Bain and Cinven was unable to get support from 75 percent of shareholders. The new offer has a lower threshold for acceptance: 63 percent…
Leave a Reply
You must be logged in to post a comment.