Recordati stock: CVC and GBL clear path to delisting

Respighi BidCo, the takeover vehicle backed by CVC Capital Partners and Groupe Bruxelles Lambert, reached a provisional 91.928 percent of Recordati's share capital when the reopened offer ended on Monday, November 9. The result clears the 90 percent threshold associated with the next steps toward delisting, according to Il Sole 24 ORE.

The reopened offer generated tenders for shares equal to 10.62 percent of Recordati's capital, or 11.187 percent of the shares covered by the offer. At the agreed consideration of 53 euros per share, the additional acceptances represent 1.177 billion euros.

Ownership Moves Beyond Key Threshold

Before the reopening, Respighi BidCo had reached 74.58 percent of Recordati's capital after passing the original 66.67 percent minimum acceptance threshold. The latest result therefore adds a substantial block of shares and gives the consortium a stronger position for the procedure to acquire the remaining shares and pursue the subsequent delisting of the pharmaceutical group from Euronext Milan.

The offer price remains 53 euros per share. Shares tendered during the reopening are scheduled for settlement on Tuesday, November 17. The provisional result means the focus for minority holders shifts from the outcome of the offer to the mechanics and terms of the remaining acquisition process.

Recordati Stock Trades Near Offer Price

Recordati stock traded at 52.98 euros on Lang & Schwarz at 11:31:48 CET on Tuesday, November 10, 2026.

The broader Italian equity backdrop can be followed through the FTSE MIB market reports.

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