Feb 12 German generic drugmaker Stada
said it has received two offers for the acquisition of the
company, one of which is private equity group Cinven Partners
Cinven is offering a price of 56 euros per Stada share.
Stada did not mention the name of the other bidder.
The company said it is still weighing its options and says
it is "not possible to foresee whether a takeover offer from
Cinven or the other potential bidder will materialise."
The Financial Times earlier reported that Stada had received
an offer from Cinven for 58 euros per share, valuing the bid at
3.6 billion euros. on.ft.com/2klkdOM
In August, the chief executive of Stada, Matthias
Wiedenfels, under pressure from activist investors to reform the
company's governance and replace board members, promised a more
modern, dynamic approach to running the company.
Stada steered clear of major merger deals last year as the
generic drug industry began consolidating to cut costs, driven
by larger players including Teva and Allergan.
Stada had focused instead on branching out into branded
consumer care and cosmetics products as well as diagnostics
(Reporting by Shalini Nagarajan in Bengaluru; Editing by Andrea