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Stada says invites rival suitors Advent, Cinven to takeover talks
February 13, 2017 / 2:20 PM / 10 months ago

Stada says invites rival suitors Advent, Cinven to takeover talks

FRANKFURT (Reuters) - German generic drugmaker Stada (STAGn.DE) said it was holding talks about being taken over with rival suitors Advent International and Cinven Partners.

Stada’s executive board has “started open-minded talks to allow the interested parties to explain their strategic concepts and evaluate further value-enhancing potential with regards to the potential offer price,” it said in a statement on Monday.

Stada earlier said it was weighing two takeover approaches, including one from private equity firm Cinven Partners which valued it at almost 3.5 billion euros (3 billion pounds).

Reporting by Ludwig Burger; Editing by Edward Taylor

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