Elliott demands premium for minority Stada shareholders
September 01, 2017
Drug Discovery | Bad Vilbel, Germany | Buyout
Elliott Management is demanding €74.40 per share for minority shareholders in Stada, way above the €66.25 per share bid which clinched Bain Capital and Cinven's takeover of the drugmaker. The investors secured around 64% of the company's shares after a sweetened €5.4 billion takeover offer last month, and are now pursuing a 'domination and profit and loss pooling agreement' to snap up the remaining stake. Elliott has reportedly built up a 9.6% stake, or 11.6% when taking stock options into account.