Recordati: Respighi’s takeover bid closes at 91.93 per cent; delisting to go ahead
Following the purchase of the remaining shares
(Il Sole 24 Ore Radiocor) - The takeover bid for Recordati launched by Respighi BidCo – the vehicle in which CVC and GBL hold stakes – reached 91.928 per cent of the share capital at the close of the extended offer period, according to provisional figures. Shares representing 10.62 per cent of the share capital and 11.187 per cent of the offer were tendered, amounting to €1.177 billion (at €53 per share, in line with yesterday’s closing price). This figure therefore takes the offer above the 90 per cent threshold, paving the way for the procedure to acquire the remaining shares and the subsequent delisting of the pharmaceutical group from Euronext Milan.
Before trading resumed, the bid had reached 74.58 per cent of Recordati’s share capital, having exceeded the minimum threshold for the bid to be valid, initially set at 66.67 per cent. The takeover bid price is €53 per share (in line with yesterday’s closing price) and the payment date for acceptances received following the reopening of the bid is set for 17 November.
Com-Chi
