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The drawn-out chase for Stada looks set to come to an end, with the German generic drug maker deciding to support a takeover bid from Bain Capital and Cinven valuing the company at €5.32bn ($5.6bn).

German generic drug maker Stada it had agreed to the offer from Bain and Cinven of €65.28 a share and a dividend of €0.72 per share, or a 48.9 per cent premium to Stada’s share price on December 9. The offer estimates Stada’s equity value at €4.11bn.

Ferdinand Oetker, chairman of the supervisory board of Stada said:

The offer of Bain Capital and Cinven contains the most attractive overall combination. In addition to the highest price we were able to reach comprehensive protection provisions especially for our employees and to initiate a future-oriented growth strategy.

Stada opened its books to a private equity firms in February after receiving offers from Bain Capital and Cinven as well as a bid from Advent International.

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