July 4, 2017 / 5:58 AM / 5 months ago

Bain, Cinven may seek regulatory nod for fresh bid - Stada

FRANKFURT, July 4 (Reuters) - Germany’s Stada on Tuesday said buyout groups Bain Capital and Cinven may seek regulatory approval to make a new takeover offer for the generic drugmaker after their 5.3 billion euro ($6 billion) bid fell through.

Such a move would need to be approved by both German financial watchdog Bafin and Stada itself because a suitor is normally not allowed to make another offer for at least a year.

“Stada is currently assessing whether the company would give its consent to the exemption from the exclusion period,” the pharmaceutical company said in a statement.

The Financial Times had reported late on Monday that Bain and Cinven could unveil a fresh bid within 48 hours.

Bain and Cinven would offer an unchanged price of 66 euros per share but would lower the minimum acceptance threshold to 65 percent or less, it said.

Investors representing 65.52 percent of Stada’s equity had signed up for the last bid, missing a 67.5 percent threshold, despite the 49 percent premium offered by the buyout groups to trump a rival offer from private equity duo Advent and Permira.

People close to the matter had told Reuters last week that Bain and Cinven were talking to investors about a potential new offer for Stada.

$1 = 0.8797 euros Reporting by Maria Sheahan; Editing by Vyas Mohan

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