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German pharma company Stada confirms takeover bid from two firms

PBR Staff Writer Published 13 February 2017

German drug maker Stada Arzneimittel has received two takeover proposals including a €3.5bn proposal from private equity group Cinven Partners.

Cinven has proposed to buy all the shares of Stada in a takeover offer, with each of them priced at €56. The offer from the other unnamed bidder has not been revealed by Stada.

Cinven’s offer values Stada at €3.5bn, reported The Financial Times. Its offer represents 15% premium to the pharma’s closing share price of €49.69 on February 10.

The German pharma released a statement on the two legally non-binding expressions of interest which read: “Stada is currently weighing up its options on how to react in the best interest of the Company. It is not yet possible to foresee whether a takeover offer from Cinven or the other potential bidder will indeed materialise.

“Stada will keep both the capital markets and the public updated on tangible development in this regard, in line with the applicable legal requirements.”

In November last year, Stada UK purchased UK based branded product company Natures Aid for an undisclosed price. Natures Aid manufactures vitamins, minerals, herbal products and food supplements.

Headquartered in Bad Vilbel, Stada Arzneimittel manufactures generic drugs and branded OTC products. It has presence in over 30 countries through 50 sales companies across the world.

The company which makes branded products like Grippostad and Ladival has over 10,500 employees as on 2015 end.