FRANKFURT May 24 Private equity firms Advent
and Permira are not planning to tie up with Shanghai
Pharmaceuticals to make a counter bid for German
generics drugmaker Stada Arzneimittel, three people
familiar with the matter told Reuters on Wednesday.
Buyout groups Bain Capital and Cinven last month won an
auction for Stada with a bid valuing the group at about 5.3
billion euros ($5.9 billion), beating Advent and Permira.
Talks among Advent, Permira and Shanghai Pharmaceuticals,
which earlier this month said it may make an offer for Stada,
failed because no agreement could be reached over price, the
Stada, Advent and Permira declined to comment. Shanghai
Pharmaceuticals was not immediately available for comment.
($1 = 0.8945 euros)
(Reporting by Alexander Huebner and Pamela Barbaglia;
Additional reporting by Arno Schuetze; Writing by Christoph
Steitz; Editing by Elaine Hardcastle)