Palliser Urges Recordati to Reject CVC Offer
Activist investor Palliser Capital urged Recordati to withdraw support for a 51.29 euro per share buyout offer from CVC and GBL. Palliser argued the deal undervalues the drugmaker and pressed for a higher bid of at least 60 euros.
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Activists at Palliser Capital urged RECORDATI INDUSTRIA CHIMICA to reject a €10.7 billion buyout offer on Monday morning. The activist investor argued the proposed price undervalues the Italy-based drugmaker.
