Recordati shares climb on report of CVC takeover bid
Recordati shares rose 9% today on reports that CVC is planning a full takeover. A source dismissed the news as speculation while both firms declined to comment.
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Shares of the Italy-based pharmaceutical group Recordati Industria Chimica e Farmaceutica S.p.A. surged by 9% on Thursday following reports of a potential full takeover by CVC CAPITAL PARTNERS PLC. According to the financial daily IL SOLE 24 ORE, the private equity firm has officially notified the company's board of its plans to acquire the remaining shares.
CVC already holds a controlling stake in Recordati. While the market responded with a significant price jump, a source close to the company dismissed the report as purely speculative rumours.
