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REFILE-Fresenius vows to take breather after three deals
May 12, 2017 / 12:34 PM / 6 months ago

REFILE-Fresenius vows to take breather after three deals

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By Andreas Kröner

FRANKFURT, May 12 (Reuters) - The head of German healthcare group Fresenius SE said he would abstain from the takeover market for now, after striking three deals worth billions of euros in total since taking over less than a year ago.

“First we should properly chew and also digest what we have bitten off,” Chief Executive Stephan Sturm told shareholders at the group’s annual general meeting on Friday.

“And if all that goes according to our expectations, and it’s also very savoury, then we will push for a possible use of our existing war chest,” he added.

Fresenius last month stepped up its dealmaking, agreeing to buy U.S. generic drugmaker Akorn Inc for $4.75 billion and the biosimilars arm of Germany’s Merck KGaA for as much as 670 million euros.

It has also bought Spanish hospital chain Quironsalud for 5.8 billion euros ($6.31 billion).

$1 = 0.9199 euros Writing by Ludwig Burger; Editing by Maria Sheahan

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