Bain and Cinven Bow To Elliott Pressure Over Stada Price

The private equity firms have agreed to pay more to Stada minority stockholders in a settlement that could add an extra €180-190m to their initial €5.4bn purchase price.

Money
Bain and Cinven need to pay out more cash to get shareholder support for Stada buy • Source: Shutterstock

The Stada Arzneimittel AG takeover story has taken another turn after new owners Bain Capital and Cinven agreed to pay more to minority shareholders in order to gain full control of the German generic drug maker.

The private equity firms have given in to demands issued at the end of last week by prominent activist hedge fund Elliott Management which said it wanted at least €74.40 per share to guarantee its support of Bain and Cinven's acquisition of Stada

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