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FRANKFURT (Reuters) - Stada Arzneimittel AG (STAGn.DE), the German drug company that has received an agreed takeover bid from buyout firms Bain and Cinven, on Tuesday said it had not been notified of any rival offer in the works.
Bloomberg reported on Monday that investor Advent and Shanghai Pharmaceuticals (601607.SS) were discussing a potential bid of about 70 euros a share.
That would trump Bain and Cinven's offer of 65.28 euros plus and a dividend of 0.72 euros per share, which was already seen as a surprisingly large, valuing the company at about 5.3 billion euros ($5.8 billion).
Reporting by Ludwig Burger; Editing by Maria Sheahan