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Advent and Shanghai Pharma consider rival bid for Stada - Bloomberg


(Reuters) - Buyout firm International Corp and Pharmaceuticals Holding Co are considering making an offer for German drug company Arzneimittel AG, reported on Monday.

and Pharmaceuticals are discussing potential bid of about 70 euros share, reported, citing people familiar with the matter.

No final decisions have been made and the companies could decide against bid, the report said.

An offer from the duo could rekindle bidding war for generic drugmaker

Rival buyout groups Bain Capital and Cinven have been vying with consortium comprising and Permira for control of

Bain and Cinven had offered to buy in April wih an offer of 65.28 euros per share and dividend of 0.72 euros per share. Their surprisingly large increase on previous bid valued the company at about 5.3 billion euros ($5.81 billion).

and declined to comment and was unable to contact Pharmaceuticals outside business hours.

(Reporting by Subrat Patnaik in Bengaluru; Editing by David Goodman)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)