A CVC-led consortium including Belgium's GBL raised its tender offer for Recordati to €53 per share in early October and declared the price final. The offer period now runs to 23 October.
Why Respighi BidCo (CVC, GBL) is buying Recordati
The bidders want enough of the Milan-listed pharma company to take it private; CVC already controlled roughly 47% through its holding vehicle, which tendered its stake.
Deal terms and financing
The price rose from €51.29 to €53 a share in cash; including the 2025 dividend already paid, holders receive the equivalent of €53.71. The consortium has also been buying shares in the market at up to €53.
Regulatory approvals and timing
Antitrust clearances in the US, EU, China and other markets have been obtained without remedies, along with Greek foreign-investment approval. Payment is scheduled for 2 November.
Market context
Acceptances stood just under 50% in early October, short of the level needed to delist, prompting the raise. The deal is one of the largest European pharma take-privates of the year.
