Uncertainty Over Stada Bid Likely To Drag On Over Weekend

6/25/17

Buyout groups Bain Capital and Cinven must wait over the weekend to see whether their takeover bid for the German generic drugmaker Stada (STAGn.DE) has been successful, two sources familiar with the situation said.

The tender offer for the agreed 5.3 billion euro ($5.9 billion) deal at 66 euros per share ran through to the end of Thursday, June 22, and was made conditional on securing 67.5 percent of the shares in the drugmaker. By late Friday, they had not announced the threshold had been crossed.

“We’re not yet there. But hope springs eternal,” one source told Reuters.

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