Recordati confirms 10.9 billion euro takeover approach from CVC
Italian drugmaker Recordati (XMIL: REC) has confirmed it received a non-binding takeover approach from private equity firm CVC Capital Partners, valuing the company at 10.9 billion euros ($12.6 billion).
The proposal, priced at 52 euros per share, would see CVC pursue a voluntary tender offer aimed at delisting the Milan-listed group. Shares rose around 5% on the news.
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