FRANKFURT Buyout groups Bain Capital and Cinven have so far been offered 36.55 percent of German drugmaker Stada (STAGn.DE) shares, the private equity groups said on Monday.
The tender offer for the agreed 5.3 billion euro deal runs through June 22 and is conditional on securing 67.5 percent of Stada's shares.
The investors lowered minimum acceptance threshold earlier this month.
Investors typically tender shortly before the deadline.
People close to the deal have said that passing the set threshold may prove a challenge given the large number of shares held by retail investors, who are more likely to forget to tender than institutional stockholders, as well as by index tracking funds that cannot tender for technical reasons.
Activist investor Active Ownership Capital earlier this month sold its Stada stake to someone who is expected to tender it in the offer, according to people close to the deal.
(Reporting by Arno Schuetze; Editing by Ludwig Burger)