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Stada give suitors more time to raise takeover bids
March 16, 2017 / 5:46 PM / 9 months ago

Stada give suitors more time to raise takeover bids

FRANKFURT, March 16 (Reuters) - German generic drugmaker Stada, the subject of takeover approaches from two private equity consortiums, has postponed the structured bidding process to give rival bidders a chance to improve their offers.

“The Executive Board and the Supervisory Board mutually agree that the indicative bids do not yet reflect the fundamental value of Stada,” the company said in a regulatory filing on Thursday.

The two suitors have lined up funding to back offers each worth 4.7 billion euros ($5 billion) including debt. (Reporting by Edward Taylor; Editing by David Goodman)

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