Stada in the midst of an M&A contest

Germany-based pharmaceutical group Stada confirmed today in a press release it has been approached by private equity Cinven Partners LLP and another group whose name has not been disclosed. Both groups have submitted a non-binding offer to Stada and, specifically, Cinven offered €56 per share, which represents a 13% premium to the stock’s closing share price on Friday. Stada’s shares (Frankfurt) were up 13% as trading opened today and reached a market capitalization of €3.51bn, with a P/E ratio of 29.
(Source Stada)