Takeover bid falls through – Stada and Hemofarm to remain German-owned
Despite the fact that this is one of the strongest investment agreements ever negotiated in Germany, 65.52% of the shares were secured for accepting the offer, which fell below the threshold of 67.5% the bidder was prepared to accept, following the reduction of the initial 75%.
– The Stada Group, including Hemofarm as the biggest producer and employer in the group, will now double its efforts towards maintaining a sustainable, profitable growth and increasing its value in the long term – said Ronald Seeliger, CEO of Hemofarm and Vice President of the Stada Group for Southeast Europe.
As Hemofarm's press release says, he clarified that that meant that Stada would continue adjusting and integrating its business units in all regions more closely.
– Hemofarm, which is the key asset of the Stada Group, needs to remain at the forefront of that change – Seeliger said.
Matthias Wiedenfels, Chairman of the Executive Board of the Stada Group, emphasized that the company respected the shareholders' decision and that he saw it as an incentive to develop and grow even more strongly. He added that he saw the decision as a sign of trust and capability displayed by the group's shareholders.
Stada also reported that the end of the negotiations and the shareholders' final decision would not have an impact on the planned growth in the current financial year nor on the ambitious plan for the period of the next two years.
This year's sales are expected to range from EUR 2,280 to 2,350 billion, whereas the sales for 2019 are expected to range from as much as EUR 2,650 to 2,700 billion. The group's revenues are expected to amount to EUR 250 to 270 million, the press release says.
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