Europe · Business news · Corporate · 06 Oct 2026
CVC Capital Partners and Groupe Bruxelles Lambert raised their cash offer for Recordati to €53 a share from €51.29 and said there would be no further increase. Counting the €0.71 dividend Recordati has already paid, the consortium puts the total at €53.71. The acceptance period, due to end on October 15, now runs to October 23, with payment on November 2. By October 5, holders of 49.79% of the share capital had tendered; CVC already owns 46.8%. The offer has EU antitrust clearance and is meant to take Recordati off the Milan exchange.
The increase answers activist investor Palliser Capital, which argued the first price undervalued the company and asked for at least €60 a share; the new terms are still well below that, so minority holders now choose between a price declared final and staying in a company the bidders intend to delist. For Milan it means the departure of one of its larger healthcare names. For European mid-cap pharma it sets a reference for what private equity pays for speciality and rare-disease portfolios, and it shows that an activist campaign moved a sponsor-led bid by about 3% in this case.
Reported by Reuters via Global Banking & Finance Review — “CVC, GBL Raise Takeover Bid for Recordati to €53 Per Share” ↗ on 06 Oct 2026.
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