Stada Arzneimittel Bidding War Escalates

Stada Arzneimittel confirmed a third potential bidder has expressed interest in the German generic drug maker, lifting shares to an all-time high.

Stada late Thursday said that it had received another legally non-binding conditional expression of interest to acquire up to 100% of the shares at an indicative takeover price of €58 ($61.79) a share. Private equity firms Cinven Partners has also made a bid for the company at €56 a share.

"Stada is still weighing up its options on how to react in the best interest of the company," Stada said. "It is not yet possible to foresee whether one or more takeover offers of the three potential bidders will indeed materialize."