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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Shanghai Pharmaceuticals Holding Co Ltd    601607   CNE000000C82

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Shanghai Pharmaceuticals : Advent, Shanghai Pharma have not approached Stada - sources

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05/15/2017 | 08:54pm CET
Logo of the pharmaceutical company Stada Arzneimittel AG is pictured at its headquarters in Bad Vilbel

German drug company Stada Arzneimittel AG has not been approached by Advent International or Shanghai Pharmaceuticals Holding with a counter offer, two sources close to the matter told Reuters on Monday.

Rival buyout firms Bain and Cinven had offered to buy Stada in April, which seemed to end the contest to acquire the generic drug maker, but Bloomberg reported on Monday that Advent and Shanghai Pharmaceuticals are considering making an offer.

Bain and Cinven's offer of 65.28 euros per share and a dividend of 0.72 euros per Stada share was a surprisingly large increase on a previous bid and valued the company at about 5.3 billion euros (4.5 billion pounds).

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

However, Reuters' sources said a fresh bid from the duo is unlikely.

"Shanghai Pharmaceuticals is expected to struggle to secure the financing for a possible counterbid," the sources said. "They don’t have much time left to challenge Bain and Cinven."

Advent and Stada declined to comment and Reuters was unable to contact Shanghai Pharmaceuticals outside business hours.

(Additional reporting by Subrat Patnaik in Bengaluru; Editing by David Goodman)

By Alexander Hübner and Pamela Barbaglia

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Financials ( CNY)
Sales 2017 135 B
EBIT 2017 4 932 M
Net income 2017 3 545 M
Debt 2017 2 220 M
Yield 2017 1,50%
P/E ratio 2017 18,42
P/E ratio 2018 16,21
EV / Sales 2017 0,46x
EV / Sales 2018 0,41x
Capitalization 60 039 M
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 25,9  CNY
Spread / Average Target 6,2%
EPS Revisions
Managers
NameTitle
Min Zuo President & Executive Director
Jun Zhou Chairman
You Li Xu Chairman-Supervisory Board
Bo Shen Chief Financial Officer, Director & Vice President
Xin Chen Member-Supervisory Board
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