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Stada says Bain, Cinven to hike takeover offer to 66.25 eur shr
July 10, 2017 / 7:36 AM / 2 months ago

Stada says Bain, Cinven to hike takeover offer to 66.25 eur shr

FRANKFURT, July 10 (Reuters) - Buyout groups Bain Capital and Cinven will sweeten their takeover offer to 66.25 euros a share for Stada and lower the acceptance threshold, after their previous 5.3 billion euro ($6 billion) bid fell through, Stada said on Monday.

Bain and Cinven have applied for permission to resubmit another offer without having to adhere to a one year exclusion period, Stada said, adding it consents to the new offer.

The private equity investors have sweetened their offer from the 66 euros a share offered previously.

The acceptance threshold for the offer has also been lowered to 63 percent, down from the threshold of 67.5 percent previously. (Reporting by Edward Taylor; Editing by Eric Auchard)

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