Stada Saga Set To End As Board Backs Bain And Cinven Bid

It seems like the long-running saga to buy Stada Arzneimittel AG is coming to an end after the board of the German generics group recommended that shareholders accept a higher bid by the private equity firms Bain Capital and Cinven.

The deal values Stada at €4.1bn with Bain and Cinven offering €66.25 a share, consisting of €65.53 plus a dividend of €0.72. The total price is €0.25 higher than a bid made in June which had also been backed by the Stada board but failed to get support from the required 75% of shareholders