Recordati stock faces a 49.66 percent tender offer acceptance rate

Published on 10/04/2026 at 17:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Recordati stock faces a 49.66 percent tender offer acceptance rate on October 2, 2026. First half revenue rose 6.6 percent and EBITDA 8.8 percent in 2026.

Bauhaus-Poster mit geometrischen Formen und dem Wort PHARMA in kräftigen Farben — Recordati S.p.A. (IT0003828271) wird hier als Pharma-Unternehmen durch ein geometrisches Bauhaus-Poster mit Sektor-Kürzel symbolisiert, Illustration mit AI erstellt.

Recordati (ISIN IT0003828271) reached a 49.66 percent tender offer acceptance rate on October 2, 2026, according to Teleborsa. The result keeps the proposed takeover at the center of Recordati stock's valuation, while the latest operating figures show continued growth in the pharmaceutical business.

Acceptance reaches 49.66 percent

Respighi BidCo, backed by CVC Capital Partners and Groupe Bruxelles Lambert, received 8,982 additional requests on October 2, lifting total acceptances to 98,591,890 securities, or 49.66 percent of the instruments covered by the offer.

The rate compares with 49.65 percent reported on September 30, a gain of 0.01 percentage points in two days. The voluntary tender offer began on August 31 and is scheduled to close on October 15, 2026, according to Teleborsa.

First half revenue rose 6.6 percent

Recordati's first half 2026 revenue reached EUR 1.4 billion, up 6.6 percent on a reported basis and 9.1 percent on a like-for-like basis at constant exchange rates, according to Yahoo Finance.

EBITDA increased 8.8 percent to EUR 540.2 million, producing a 38.3 percent margin. Adjusted net income rose 6.7 percent to EUR 349.9 million, while reported net income increased 24.8 percent to EUR 269.7 million in the same period.

Rare disease revenue was EUR 604 million in the first half, up 17.1 percent. That segment therefore grew faster than the group's reported revenue, making the portfolio mix a central consideration in the takeover debate.

Analysts see value above the offer

Barclays raised its Recordati target from EUR 50 to EUR 55 on September 8, 2026, while keeping an Equal Weight rating, according to Teleborsa. The revised target is EUR 3.71 above the EUR 51.29 offer price.

A separate consensus view compiled by MarketScreener rates Recordati Outperform based on eight analysts. The average target is EUR 60.10, with a high of EUR 71 and a low of EUR 51.30.

Offer closes on October 15

The EUR 51.29 offer price remains the key reference point for shareholders as the October 15 deadline approaches. Reuters reported on September 14, 2026, that Palliser Capital urged the consortium to raise the offer to at least EUR 60 per share.