Bain and Cinven to buy German drug company for $5.6 billion

Bain Capital and Cinven have reached a deal to acquire the German pharmaceutical company Stada Arzneimittel for 5.3 billion euros, Bloomberg reports. The deal marks the end of a long takeover contest, and will give the private equity firms better access to German and Russian markets for over-the-counter and copycat medicines. Bain Capital and Cinven will offer Stada 65.28 euros plus a dividend of 0.72 euros per share, which is roughly 49% higher than the first negotiated price in December.

Why it matters: Stada is one of the last independent generic drug businesses in Europe.