February 13, 2017 / 1:35 PM / 8 months ago

Stada says invites rival suitors Advent, Cinven to takeover talks

FRANKFURT, Feb 13 (Reuters) - German generic drugmaker Stada said it was holding talks about being taken over with rival suitors Advent International and Cinven Partners.

Stada’s executive board has “started open-minded talks to allow the interested parties to explain their strategic concepts and evaluate further value-enhancing potential with regards to the potential offer price,” it said in a statement on Monday.

Stada earlier said it was weighing two takeover approaches, including one from private equity firm Cinven Partners which valued it at almost 3.5 billion euros ($3.7 billion). (Reporting by Ludwig Burger; Editing by Edward Taylor)

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