Here are the first formal bids for Stada (€3.7bn)

Two private equity consortia submitted their takeover offers for German drug maker Stada. They both valued the group at €3.7bn, that is €58 per share. A consortium comprises PEs Advent International and Permira and one comprises Bain Capital and Cinven. Both companies committed to pay dividends, to safeguard the company’s workforce and growth strategy. Additionally, the consortia reportedly did not rule out raising their offers if they could conduct final due diligence. (Source: FT)