Stada rejects €3.7bn bid by private equity consortia

Stada board announced in a communication to Frankfurt stock exchange authorities that it has rejected both €3.7bn bids placed by two private equity consortia. Stada management objected that the bids do not reflect the company’s value and potential. Stada, however,appears open to further talks, indeed it added it wants to provide the consortia the opportunity to increase their offers. PEs Advent International and Permira offered Stada €58 per share two days ago. PEs Bain Capital and Cinven offered the same amount. Both bids included a commitment to pay future dividends and to safeguard the company’s workforce. (Source: Stada)