Two pairings of private equity groups are considering bids for Stada that would value the German generic drugmaker at up to 4.8 billion euros ($5.1 billion) including debt, people familiar with the matter told Reuters on Monday.
Advent and Permira are talking about a joint offer, two of the people said, confirming a report in the Frankfuter Allgemeine Zeitung.
Bain Capital and Cinven, who had previously separately signalled interest, have also joined forces, three sources said.
After looking into Stada’s books, the private equity firms would consider an offer of up to 60 euros per share as justifiable, according to the financial sources.
Advent, Permira and Cinven declined comment. Bain was not immediately reachable for comment.