Key Takeaways
- • CVC Capital Partners and Groupe Bruxelles Lambert (GBL) launched a €10.7 billion full cash tender offer for Italian pharmaceutical group Recordati at €51.29 per share, with the aim of delisting the company.
- • Recordati's board has judged the offer 'fair', according to publisher reports, and GBL has backed the bid.
- • The Recordati transaction values the drugmaker at more than $12 billion, per reporting cited in the publisher's coverage.
- • The weekly roundup also covered activity involving Trevi, Webuild, Evident, CrestOptics, CDP, Praude Asset Management, Polaris Capital Management and Bain Capital.
Summary
CVC Capital Partners and Groupe Bruxelles Lambert (GBL) have launched a voluntary cash tender offer for all shares of Italian pharmaceutical group Recordati, valuing the company at €10.7 billion. The consortium's offer is priced at €51.29 per share, according to BeBeez International's reporting, and is intended to take Recordati private. The publisher reported that Recordati's shares closed at €51.3 on the Wednesday before the bid and were up about 5.7% year to date.
The Recordati board has judged the offer 'fair', according to the publisher's coverage. GBL has backed the bid, which the publisher characterized as a takeover offer for one of Italy's larger listed drugmakers. Reporting cited in the publisher's roundup valued the deal at more than $12 billion, with the per-share price equivalent to $59.55.
The weekly private equity roundup from BeBeez International also covered a range of other Italian deals and developments, including news involving Trevi, Webuild, Evident, CrestOptics, CDP, Praude Asset Management, Polaris Capital Management and Bain Capital. The source article provides headline-level detail on these items, and specific terms for them are not available in the primary source.
The Recordati board has judged the offer 'fair', according to the publisher's coverage. GBL has backed the bid, which the publisher characterized as a takeover offer for one of Italy's larger listed drugmakers. Reporting cited in the publisher's roundup valued the deal at more than $12 billion, with the per-share price equivalent to $59.55.
The weekly private equity roundup from BeBeez International also covered a range of other Italian deals and developments, including news involving Trevi, Webuild, Evident, CrestOptics, CDP, Praude Asset Management, Polaris Capital Management and Bain Capital. The source article provides headline-level detail on these items, and specific terms for them are not available in the primary source.
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