Palliser seeks EUR 60 bid for Recordati stock

Published on 10/05/2026 at 11:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The bid is EUR 51.29 and closes October 15, 2026. Recordati stock costs EUR 52.53 on October 5, 2026 versus EUR 52.88, minus 0.66 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 (ISIN IT0003828271) was trading at EUR 52.53 at Lang & Schwarz on October 5, 2026 at 10:58 a.m. CEST, down 0.66 percent from the EUR 52.88 prior close. As Reuters reported on September 14, 2026, Palliser Capital urged the board to withdraw support for the EUR 51.29-per-share takeover offer and seek at least EUR 60.00.

EUR 51.29 bid faces resistance

The offer from CVC Capital Partners and Groupe Bruxelles Lambert values Recordati at EUR 10.7 billion and is scheduled to close on October 15, 2026, according to Reuters. Six of the 10 board members supported the transaction, while four independent directors considered the offer inadequate.

Business Wire said Palliser's September 1, 2026 letter cited the independent directors' unanimous opposition and called for consideration of at least EUR 60.00 per share. That requested level is 17.00 percent above the EUR 51.29 bid, while the Lang & Schwarz price is 2.42 percent above the offer.

First-half growth supports valuation debate

Recordati's first-half 2026 revenue increased 6.60 percent to EUR 1.4 billion, while reported net income rose 24.80 percent to EUR 269.70 million, according to the company's results call published by Yahoo Finance. Adjusted net income grew 6.70 percent to EUR 349.90 million, and the company confirmed full-year 2026 net revenue guidance of EUR 2.73 billion to EUR 2.80 billion.

Rare disease revenue increased 17.10 percent to EUR 604.00 million in the first half, making that segment the clearest quantified growth engine in the reported period. Specialty and primary care revenue was EUR 774.00 million, up 0.60 percent on a like-for-like basis at constant exchange rates.

Barclays target reaches EUR 55.00

Barclays raised its Recordati price target from EUR 50.00 to EUR 55.00 while keeping an Equal Weight rating on September 8, 2026, Teleborsa reported. The new target is 4.68 percent above the Lang & Schwarz price, using the euro values from the two separate market references.

Stock remains above the offer

Recordati's market capitalization was EUR 10.9 billion on September 29, 2026, and its 52-week range was EUR 43.76 to EUR 54.45, according to InvestPane. The next earnings release is scheduled for November 10, 2026, with a board meeting on November 9, 2026, according to MarketScreener.

The stock's EUR 52.53 intraday price stands EUR 1.24, or 2.42 percent, above the EUR 51.29 offer, leaving the bid terms as the central valuation reference for the October 15 deadline. The further course of trading is shown by the continuously updated real-time quote of Recordati stock.