Germany’s Gerresheimer Said to Reject Bain Takeover Approach (1)

Gerresheimer AG, a German maker of packaging for drugs and cosmetics, rejected an informal takeover approach from Bain Capital in recent weeks, according to people familiar with the matter.

Bain wasn’t able to meet Gerresheimer’s high price expectations, the people said, asking not to be identified because the information is private. Worsening credit markets have also made it increasingly difficult for private equity firms to finance takeovers, according to the people.

Shares of Dusseldorf-based Gerresheimer jumped as much as 17% on Wednesday. They were up 15% at 3:46 p.m. in Frankfurt, giving the company a market value of about ...