Deals
Stada CEO Holds Out on Offering Timeline for Takeover Talks
- Wiedenfels says he’s unaware of a 70 euros-per-share target
- “It’s not about the fastest result,” CEO tells reporters
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Stada Arzneimittel AG Chief Executive Officer Matthias Wiedenfels played for time to complete negotiations with private equity firms on a proposed $3.9 billion takeover, offering little reprieve to investors seeking an end to weeks of jostling among the suitors and the drugmaker’s management.
“This is about getting the best result for the company and its stakeholders” including employees and shareholders, Wiedenfels said in response to questions from reporters gathered in Bad Vilbel, outside Frankfurt, on Wednesday on a deadline for the talks. “It’s not about the fastest result.”