Bain and Cinven offer improved price to de-list Stada

The PE firms said they have obtained irrevocable support for the new offer from an unidentified seller with a 12% stake.

Bain and Cinven jointly acquired a majority stake in the business in August last year at €66.25 per share after having their first bid rejected by shareholders.

Activist investor Elliott Management currently holds a 15.24% stake in Stada, according to Unquote sister publication Mergermarket. In September 2017, Bain and Cinven announced that they had agreed to purchase Elliott Management's Stada shares for €74.4 per share to secure the hedge fund's support of the takeover bid.

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