Bain, Cinven to bid again for Stada as CEO resigns

Additionally, Stada CEO Matthias Wiedenfels has resigned today with immediate effect and will be replaced by Engelbert Coster Tjeenk Willink. Press reports suggest that Bain and Cinven plan to install a new CEO should their renewed takeover bid be successful.

German acquisition and takeover law (WpÜG) prevents bidders from launching multiple takeover bids in the same year unless they obtain permission from both the target company and the German Federal Financial Supervisory Authority (BaFin). Bain and Cinven's takeover offer failed at the end of June due to an insufficient acceptance rate from shareholders. 

Reports also suggest that Bain and Cinven will make a renewed offer at the same price of €66 per share. The consortium is said to have secured commitments from hedge fund investors that did not previously tender their shares.

Bain declined to comment on the matter, while Cinven and Stada could not be reached for comment.

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

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