Activist builds up Stada stake as buyout battle looms
July 10, 2017
Drug Discovery | Bad Vilbel, Germany
Elliott Management has acquired a stake in Stada, per reports, just days after the pharmaceuticals company confirmed Bain Capital and Cinven were considering an application for permission to submit another takeover offer. German weekly WirschaftsWoche has also reported that Advent and Permira are lining up a fresh proposal. Bain and Cinven's initial €5.3 billion bid collapsed after it failed to win enough shareholder support.