Stada reaffirms support for Bain Capital, Cinven bid
July 26, 2017
Drug Discovery | Bad Vilbel, Germany | Public-to-Private Buyout
The executive and supervisory boards of drugmaker Stada (FRA: SAZ) have recommended that shareholders accept the €4.1 billion takeover bid submitted by Bain Capital and Cinven last week. The €66.25-per-share offer already has commitments from around 20% of Stada's backers; it will need support from 63% of the company's shareholders to go through. The buyout consortium's previous attempt to acquire Stada collapsed in June after failing to meet the initial 67.5% threshold of support.