May 15, 2017 / 6:10 PM / 2 months ago

Advent and Shanghai Pharma consider rival bid for Stada -Bloomberg

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May 15 (Reuters) - Buyout firm Advent International Corp and Shanghai Pharmaceuticals Holding Co are considering making an offer for German drug company Stada Arzneimittel AG , Bloomberg reported on Monday.

Advent and Shanghai Pharmaceuticals are discussing a potential bid of about 70 euros a share, Bloomberg reported, citing people familiar with the matter. (bloom.bg/2pPpTni)

No final decisions have been made and the companies could decide against a bid, the report said.

An offer from the duo could rekindle a bidding war for generic drugmaker Stada.

Rival buyout groups Bain Capital and Cinven have been vying with a consortium comprising Advent and Permira for control of Stada.

Bain and Cinven had offered to buy Stada in April wih an offer of 65.28 euros per share and a dividend of 0.72 euros per Stada share. Their surprisingly large increase on a previous bid valued the company at about 5.3 billion euros ($5.81 billion).

Advent and Stada declined to comment and Reuters was unable to contact Shanghai Pharmaceuticals outside business hours. ($1 = 0.9120 euros)

Reporting by Subrat Patnaik in Bengaluru; Editing by David Goodman

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