FRANKFURT, March 15 (Reuters) - The two private equity
consortia vying for Stada have made binding takeover
offers each worth 4.7 billion euros ($5.0 billion) including
debt, paving the way for a deeper look into the German generic
drugmaker's books, several people familiar with the matter said.
The competing groups, Advent and Permira against Bain and
Cinven, have also secured financing packages, which had been a
precondition set by Stada before more business data could be
provided, the sources added.
The non-executive supervisory board of Stada - a supplier of
generic drugs, consumer care products, diagnostics kits and
e-cigarettes for vaping - is due to meet on Wednesday to
consider the offers, they said.
As part of the confirmed offers, worth 58 euros per share as
before, shareholders stand to receive the full dividend of 0.72
euros per share for 2016, a payout level that was proposed by
Stada's management two weeks ago.
The Financial Times late on Tuesday reported the
Reuters reported last week that confirmatory bids would
likely be around the initial level of about 58 euros per share
and that final bids could be up to 60 euros per share, depending
on the more detailed due diligence assessment.
Reuters has also reported that China's Shanghai Fosun
Pharmaceutical is looking into entering the bidding
($1 = 0.9401 euros)
(Writing by Ludwig Burger; Editing by Keith Weir)