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Shanghai Pharma says may submit rival bid for Germany's Stada

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Staff Writer | May 17, 2017
Shanghai Pharmaceutical Holding said it may bid for Stada Arzneimittel - a move that would pit it against buyout firms Bain and Cinven which have made a joint offer of nearly $6 billion for the German generics drugmaker.
Acquisition   A market value of around $9.2 billion
The Chinese drugmaker said in a filing that it had recently discussed the matter with 'a couple of financial investors' but added that it had not made a concrete offer and there were still many uncertainties.

Bloomberg reported this week that Shanghai Pharma, along with investor Advent International, was discussing a bid of about 70 euros a share, which would top Bain and Cinven's offer in April of 65.28 euros per share and a dividend of 0.72 euros per Stada share.

But Shanghai Pharma, which has a market value of around 63 billion yuan ($9.2 billion), said the reported offer price was "inconsistent with reality".