Bain, Cinven amend takeover offer for Stada

The acceptance period has been extended from 8 June to 22 June and the acceptance threshold reduced from 75% to 67.5%. The current acceptance rate is 21.5%.

The action is due to a lower-than-expected level of tender participation by retail investors, according to a statement. In addition, the statement notes that some index funds are unable to tender their shares during the original period.

The bidder is confident that the transaction certainty will be increased by this amendment. All other offer conditions remain unchanged.

Bain and Cinven's takeover bid was approved by management in April at a price of €66 per share, valuing the company at €5.3bn after outbidding rival consortium Advent and Permira in an auction.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• DACH
• Healthcare
• Cinven
• Take Private
• Bain Capital Europe