Palliser challenges Recordati offer while Recordati stock tops EUR 51.29 bid

Published on 10/01/2026 at 09:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 6.60 percent to EUR 1.40 billion in the first half of 2026. Recordati stock is EUR 52.83 on October 1, 2026 versus EUR 52.55, plus 0.53 percent.

Moderne Pharma-Produktionsanlage mit Edelstahltanks und Glasfassade bei Tageslicht — Recordati S.p.A. (IT0003828271) betreibt moderne Pharma-Produktionsanlagen mit hochwertiger Fertigungstechnik am Firmensitz in Mailand, Italien, Illustration mit AI erstellt.

Recordati stock was trading at EUR 52.83 at Lang & Schwarz on October 1, 2026, above the EUR 51.29 tender offer price challenged by Palliser Capital. As Reuters reported on September 14, 2026, Palliser urged Recordati's board to withdraw support for the offer and called for consideration of at least EUR 60.00 per share.

Offer deadline sets the next test

The voluntary tender offer acceptance period began on August 31, 2026, and is scheduled to end on October 15, 2026. Reuters reported that the offer is backed by CVC Capital Partners and Groupe Bruxelles Lambert through Respighi BidCo, while four independent directors considered the EUR 51.29 price inadequate.

The price gap is central to the dispute. Palliser's EUR 60.00 proposal stands EUR 8.71 above the offer, while the Lang & Schwarz quote is EUR 1.54 above the bid. That spread leaves the tender terms as the clearest near-term reference point for the stock.

First-half growth supports the valuation debate

Recordati's operating performance provides a separate reference for the takeover debate. In the first half of 2026, revenue increased 6.60 percent to EUR 1.40 billion, while reported net income rose 24.80 percent to EUR 269.70 million, according to the company's earnings call published by Yahoo Finance.

The same first-half update showed adjusted net income of EUR 349.90 million, up 6.70 percent, and free cash flow of EUR 299.40 million. Recordati also confirmed 2026 net revenue guidance of EUR 2.73 billion to EUR 2.80 billion, giving investors a current operating benchmark alongside the offer price.

Stock remains above the bid

At Lang & Schwarz, Recordati was trading at EUR 52.83 on October 1, 2026 at 9:38 a.m. CEST, up 0.53 percent versus the prior close of EUR 52.55. The market price therefore sits above the EUR 51.29 offer, but below Palliser's EUR 60.00 requested consideration.

The further course of trading is shown by the continuously updated real-time quote of Recordati stock.