Family-owned Recordati, which is celebrating its 100th anniversary, is considering an acquisition offer from CVC Capital Partners.
Luxembourg-based CVC offered 52.00 euros ($60) per share, totaling 10.9 billion euros ($12.6 billion). The Italian pharmaceutical company said in a statement that the investment firm, which already holds a 47% stake in Recordati, intends to delist it.
Recordati confirmed the proposal after the market closed on Thursday (PDF). Earlier in the day, Italian economic news outlet Il Sole 24 Ore reported on the potential deal, triggering a 5% jump in Recordati’s stock price.
“The expression of interest is not legally binding and is subject to multiple conditions, including completion of due diligence, securing transaction financing and identifying a partner to proceed with the initiative,” Recordati said, adding that it had not yet considered the offer.
The company is experiencing rapid growth, with sales more than doubling over the past decade. Last year, total sales for 2025 were 2.6 billion euros ($2.9 billion).
Recordati acquired EUSA Pharma for 750 million euros ($845 million) in 2021 to focus on rare disease initiatives. This deal led to the introduction of Iturisa, a treatment for Cushing’s disease. In November, Recordati doubled its peak sales forecast for the treatment to 1.2 billion euros ($1.4 billion).
CVC Capital Partners acquired Recordti in 2018, spending 3.03 billion euros ($3.5 billion) for a 51.8% controlling stake in the company.
