Recordati stock holds at EUR 53.13 as takeover tensions persist

Published on 09/29/2026 at 12:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Recordati stock faces a EUR 51.29 tender offer that Palliser says should rise to EUR 60.00, Reuters reported September 14, 2026. H1 revenue rose 6.6 percent to EUR 1.4 billion.

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 53.13 at Lang & Schwarz on September 29, 2026 at 12:31 p.m. CEST, down 0.04 percent versus the Borsa Italiana close of EUR 53.15 on September 28, 2026. The takeover dispute remains the key valuation issue after Reuters reported on September 14, 2026 that Palliser Capital urged the board to withdraw support for the EUR 51.29 offer and seek at least EUR 60.00 per share.

Takeover price faces resistance

The tender offer opened on August 31, 2026 and is due to close on October 15, 2026, according to Reuters. The report said six directors backed the offer while four independent directors considered it inadequate, leaving investors to weigh the EUR 51.29 cash value against Palliser's EUR 60.00 proposal.

That gap is material against the market quote: EUR 53.13 is EUR 1.84 above the offer price, while the requested EUR 60.00 would be EUR 6.87 above the Lang & Schwarz price. The comparison frames the stock as an event-driven situation rather than a simple earnings trade.

H1 growth supports the case

Recordati's H1 2026 revenue reached EUR 1.4 billion, up 6.6 percent year over year, while EBITDA rose 8.8 percent to EUR 540.2 million, according to Yahoo Finance in the transcript of the July 29, 2026 results call. Adjusted net income increased 6.7 percent to EUR 349.9 million, and free cash flow reached EUR 299.4 million.

Rare Disease revenue increased 17.1 percent to EUR 604 million in H1 2026, while Specialty and Primary Care revenue was EUR 774 million and rose 0.6 percent on a like-for-like constant-currency basis, according to Yahoo Finance. Management also confirmed 2026 revenue guidance of EUR 2.73 billion to EUR 2.80 billion and EBITDA guidance of EUR 995.0 million to EUR 1.03 billion.

Next results set for November

Recordati's next scheduled earnings release is November 10, 2026, with a board meeting listed for November 9, 2026, according to MarketScreener. The next report will test whether the H1 growth profile and the confirmed full-year targets can strengthen the company's negotiating position before the offer deadline.

Recordati stock stays above offer

Recordati stock was trading at EUR 53.13 at Lang & Schwarz on September 29, 2026 at 12:31 p.m. CEST, down 0.04 percent versus the Borsa Italiana close of EUR 53.15 on September 28, 2026. The market capitalization was EUR 10.8 billion and the 52-week range was EUR 43.76 to EUR 54.45 as of September 29, 2026.