April 10, 2017 / 5:00 AM / 8 months ago

German drugmaker Stada backs 5.32 bln euro offer from Bain, Cinven

April 10 (Reuters) - German drugmaker Stada said it has decided to support an offer from Bain Capital and Cinven for 66 euros per share, valuing the company at about 5.32 billion euros.

The private equity consortium is offering 65.28 euros per share and a dividend of 0.72 euro per Stada share, the company said in a statement on Monday.

Stada, which had received offers from two consortia, said it has signed an investor agreement which would include protection provisions for employees.

A tie-up of buyout firms Advent and Permira was bidding against Bain and Cinven. Both had made takeover offers at 58 euros per share, which valued the company at 4.7 billion euros including debt. (Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Sunil Nair)

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