May 15 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
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
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