Private equity groups bag Stada in $5.6B buyout; Jefferies sees deteriorating prospects for AstraZeneca
→ The generics business is continuing to consolidate. Bain and Cinzen have done a deal to acquire Germany’s Stada for $5.6 billion. The private equity groups are paying close to a 50% premium for the stock, if you compare it to the price these shares fetched before word of a possible takeover hit in December.
→ Jefferies downgraded AstraZeneca after determining that the company’s prospects have deteriorated. “We and consensus have been guilty of failing to reflect the impact of future revenue externalization and asset disposals on revenue and earnings per share growth,” said analyst Jeffrey Holford.
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