This is one of the largest takeovers of a German company by the companies of capital-investment. The fund, Bain and Cinven are reached, after an initial failure, to entice enough shareholders to redeem for more than 5 billion euros by the pharmaceutical company German Stada, announced this last Friday, August 18.
After months of uncertainty, the holding of the two funds managed to cross the threshold of 63% of shares tendered in its tender offer that it had set, according to a press release. Neither Strada nor any of its owners, the anglo-saxons have given the threshold exact acceptance by the shareholders.
Has 65,53 € per share, plus a dividend of € 0.72 per title, the new offer, supported by the management of Stada, was approximately € 16 million higher. Despite the lowering of the acceptance rate for the second offer, the case seemed evil committed, there are still a few days.
Green light from the competition authorities
The Frankfurt stock Exchange, investors were torn. The share of Stada exceeded his the head of the index MDax average values leapt by 12.5% to 72,11 € 13.00 GMT, in a market downturn.
The holding of two fund, which already has the green light from the competition authorities, intends to develop the international generic company based in Bad Vilbel, near Frankfurt (west).
“We are pleased that the issue of the future structure of the company is now clarified”, said Engelbert Willink, the owner of Strada, quoted in the press release.
“With the sector expertise of the new owners and their access to the global network in the field of health, the position of Stada as a pharmaceutical company in the world will be sustainably strengthened,” said the officer.
Employing over 10,000 people, Stada generated a turnover of 2.17 billion euros in 2016. It is essentially a large producer of generic drugs, representing more than half of its revenues, and products without a prescription, of which the most well known brands are the anti-influenza Grippostad and sunscreens Ladival.