Recordati stock heads into offer reopening after 74.6% bid stake

Recordati stock enters the coming week with the tender offer set to reopen on Tuesday, November 3. Respighi BidCo, backed by CVC and GBL investors, secured a combined 74.6 percent stake after the initial acceptance period, according to MarketScreener.

Reopening gives shareholders another window

The acceptance terms are scheduled to reopen during the trading sessions on November 3, 4, 5, 6 and 9. The offer consideration remains 53.00 euros per share, including the dividend, while payment for shares accepted during the reopening is scheduled for November 17.

The initial acceptance period ended on October 23. About 130.0 million shares were tendered, equal to 62.2 percent of Recordati's share capital, while the combined stake exceeded the 66.7 percent minimum threshold required for the offer to become effective.

Delisting remains the key investor issue

Respighi BidCo is seeking to acquire the entire share capital and delist Recordati. If the combined holding remains below 90 percent after the reopening, the bidder has indicated that it intends to pursue delisting through a merger of Recordati into Respighi BidCo, subject to approval by the relevant corporate bodies.

Recordati stock traded at 52.83 euros on Lang & Schwarz at 17:27 CET on Sunday, November 1.

Investors can follow the real-time quote of Recordati stock as the reopening approaches.

Italian equities will be watched against the broader FTSE MIB market backdrop.

Further news and analyses on Recordati stock will focus on shareholder participation, the final ownership structure and the route toward a possible delisting.