Bain Capital and Cinven will  return, after been cleared by Germany’s financial regulator, with an higher offer for Stada.

So what is set to be the Europe’s largest buyout in four year can carry on without to wait for  one-year exclusion period as nornally would require the law.

Bain Capital and Cinven can submit a renewed voluntary public takeover approach for the last remaining independent generic drugmakers in Europe.

Stada said the buyout firms had increased their takeover offer by 25 cents per share to 66.25 euros after their previous 5.3 billion-euro ($6 billion) bid fell through. The revised offer is approximately 16 million euros above the prior offer.

The acceptance threshold for the new bid has been lowered to 63 per cent, after the last offer failed
to win the backing of the 67.5 percent they had targeted., and the acceptance period has been cut to four weeks.

“We believe that enabling Bain Capital and Cinven to submit an improved offer is in the best interest of the company and our shareholders,” said Engelbert Coster Tjeenk Willink, chairman of Stada’s executive board. 

Source: Financial Times