Deals
Stada Gains as Advent, Shanghai Pharma Said to Mull Rival Offer
- Consortium said to mull offer of about 70 euros a share
- New offer could upset $5.8 billion bid from Bain and Cinven
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Buyout firm Advent International Corp. and Shanghai Pharmaceuticals Holding Co. are weighing an offer for Stada Arzneimittel AG, people familiar with the matter said, potentially restarting a bidding war for the German drug company.
Advent and Shanghai Pharmaceuticals are discussing a potential bid of about 70 euros a share, though no final decisions have been made and the companies may decide against making a bid, the people said, asking not to be identified because the discussions are private. The price would beat the offer Stada’s board had accepted from Bain Capital and Cinven. Shares of the German drugmaker climbed by the most in more than a month.