Stada tells PE bidders to improve offers

In a statement, Stada confirmed reports that "expert sessions, which were planned as part of the structured bidding process, have been postponed based on the decision of the supervisory board". The company added that the indicative bids do not yet reflect the fundamental value of the business and that it wished to provide bidders the opportunity to increase their offers.

Stada denied that the delay in the process was aimed at allowing further bidders (namely a private equity company and a strategic investor) to enter the process.

According to recent media reports, the bidders for the listed German drug maker teamed up into consortiums in recent weeks. On the one hand, Advent International linked up with Permira, while Bain Capital made a joint bid with Cinven.

The share prices offered by both consortiums are understood to value Stada in excess of €3.5bn.

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• Topics
• Buyouts
• DACH
• Healthcare
• Bain Capital
• Advent International
• Take Private
• Permira
• Cinven