CVC, Groupe Bruxelles Lambert Sweeten Recordati Takeover Bid to EUR10.5 Billion

05:09 AM EDT, 10/06/2026 (MT Newswires) -- A consortium led by CVC Capital Partners (CVC.AS) and Groupe Bruxelles Lambert (GBLB.BR) raised its offer to acquire Italian pharmaceutical company Recordati (REC.MI) to 53 euros per share, according to a Tuesday release. The "best and final" voluntary offer from Respighi BidCo implies a consideration of up to 10.52 billion euros if all 198,525,562 targeted Recordati shares are tendered. The consortium's previous bid was 51.29 euros per share. Respighi BidCo said the revised price reflects a "full and fair" assessment of Recordati's independent prospects amid the existing market backdrop, noting a "progressive deterioration of valuations" in the broader European healthcare and specialty pharmaceutical sector. When factoring in Recordati's 2025 dividend of 0.71 euro per share, the updated offer represents a 16.61% premium over Recordati's closing price on March 25, the last trading day before CVC's initial non-binding approach was disclosed. The offer was initiated to take Recordati private and delist its shares from Euronext Milan. In addition to sweetening the deal, the consortium extended the acceptance deadline to Oct. 23 from Oct. 15, with successful tenders scheduled for payment on Nov. 2. Recordati and CVC shares were over 1% higher in midmorning trading in Milan and Amsterdam, respectively, while Groupe Bruxelles Lambert's stock was up nearly 1% in Brussels.