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Advent, Permira consider fresh bid for Stada - WirtschaftsWoche
July 5, 2017 / 9:25 AM / 3 months ago

Advent, Permira consider fresh bid for Stada - WirtschaftsWoche

FRANKFURT (Reuters) - Private equity companies Advent and Permira are considering a fresh approach on German generic drugmaker Stada, WirschaftsWoche reported on Wednesday, citing financial sources.

Advent and Permira were earlier this year beaten out by rival bidders Bain and Cinven, whose offer for Stada later failed to reach the required minimum acceptance level. Bain and Cinven are currently mulling making another bid.

Sources told Reuters last month that Advent and Permira remained interested in Stada, but were not expected to take immediate action to put together a new bid. Instead, they would wait to see whether Bain and Cinven launch a second attempt, they said.

Their stance has not changed in the meanwhile, people close to the matter said on Wednesday.

Advent and Permira declined to comment.

Reporting by Arno Schuetze and Alexander Hübner; Writing by Maria Sheahan; Editing by Tom Sims

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