Recordati stock faces a final takeover bid as deadline shifts

Published on 10/07/2026 at 13:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

CVC raised its Recordati offer from EUR 51.29 to EUR 53 on October 6, 2026, and extended the deadline. H1 revenue reached EUR 1.4 billion, up 6.6 percent.

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Recordati stock (ISIN IT0003828271) was trading at EUR 53.05 on Borsa Italiana on October 7, 2026, at 12:54 p.m. CEST, down 0.09 percent from the previous close. The revised takeover offer from CVC Capital Partners and Groupe Bruxelles Lambert now sets the central valuation reference for the Italian pharmaceutical company.

CVC raises the offer

According to Reuters on October 6, 2026, the consortium increased its cash offer from EUR 51.29 to EUR 53 per share and called it its best and final offer. Including the EUR 0.71 dividend already distributed, the total consideration reaches EUR 53.71 per share, while the maximum transaction value is EUR 10.52 billion.

The acceptance period now ends on October 23, 2026, instead of October 15, and payment for tendered shares is scheduled for November 2, 2026. Shareholders representing 49.79 percent of Recordati's share capital had tendered their shares by October 5, while CVC already held 46.8 percent, Reuters reported.

H1 results support the case

Recordati's H1 2026 revenue increased 6.6 percent to EUR 1.4 billion, while EBITDA rose 8.8 percent to EUR 540.2 million and reached a 38.3 percent margin, according to the Yahoo Finance transcript of the July 29, 2026 earnings call. Adjusted net income rose 6.7 percent to EUR 349.9 million, while reported net income increased 24.8 percent to EUR 269.7 million.

The company also confirmed full-year 2026 targets of EUR 2.73 billion to EUR 2.80 billion in net revenue and EUR 995 million to EUR 1.03 billion in EBITDA. Rare diseases remained the growth engine, with H1 revenue of EUR 604 million, up 17.1 percent, while Specialty and Primary Care revenue stood at EUR 774 million, up 0.6 percent on a like-for-like constant-currency basis.

Analysts see higher value

The tender price sits below several published valuation references. MarketScreener reported on October 7, 2026, that Banca Akros valued the shares at EUR 65, Equita at EUR 69 and Intermonte at EUR 71. The same report said the EUR 53 offer implies 12.8 times expected 2026 earnings, below the historical 16 to 20 times range cited for Recordati.

A separate consensus published by Investing.com lists a Buy rating based on 8 analysts, including 4 Buy and 4 Hold ratings. The average 12-month target is EUR 60.10, with a high of EUR 71 and a low of EUR 51.30.

Stock trades near offer level

Recordati stock was trading at EUR 53.05 on October 7, 2026, 2.57 percent below its 52-week high of EUR 54.45 and above its 52-week low of EUR 43.76. The market capitalization was EUR 10.8 billion and volume was 86,625 shares at the quoted time.