CVC jumps after tender offer for drugmaker Recordati

CVC Capital Partners

22/05/2026 08:31

** Shares in CVC CVC.AS rise around 3%, tracking best day since end of April, after the private equity firm co-launched a tender offer for Italy' Recordati RECI.MI

** CVC said on Friday that it and Belgian investment firm Groupe Bruxelles Lambert GBLB.BR launched a 10.7 billion euro ($12.4 billion) cash bid for the Italian drugmaker, aiming to take the company private

** RBC analysts say in a note that the rationale behind the deal focuses on a "requirement for increased research and development, but also future M&A"

** KBC Securities looks at the deal "positively as an attractive capital deployment into a high-quality European compounder" with a reasonable premium and long-term value creation potential, the brokerage say in a note to clients

** Up to the previous session's close, shares were down 9.9%​ YTD

($1 = 0.8618 euros)

 (Reporting by Mateusz Rabiega)

 ((Mateusz.rabiega@thomsonreuters.com))