German pharmaceuticals business Stada has received a third buyout offer, join bids submitted earlier this week from Advent International and Cinven.

Stada has not announced the identity of the third bidder, though German publication Manager Magazin reported that it is Bain Capital. Bain, CVC Capital Partners and Permira are all interested in Stada, the Financial Times reported earlier this week.

The new €58 per share offer is higher than the €56 bid put forward by Cinven and values the business at around €3.6bn. Pricing details of Advent’s offer have not been announced.

Stada’s share price rose to over €57 this morning following the announcement of the third bid. The shares have been trading at around €56 this week.

“Stada is still weighing up its options on how to react in the best interest of the Company. It is not yet possible to foresee whether one or more takeover offers of the three potential bidders will indeed materialise,” the business said in a statement.

Bain Capital, CVC and Permira declined to comment or were not immediately available to comment on the matter.

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