MILAN, March 26 (Reuters) – Private equity firm CVC Capital Partners is preparing a full takeover of Recordati, Italian daily Il Sole 24 Ore reported on its website on Thursday, sending the Italian pharmaceutical group’s shares up 9%. A source close to Recordati, however, dismissed the report as “purely speculative rumours”. CVC, which already has […]
Health
Recordati shares jump on report of planned full takeover by CVC
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MILAN, March 26 (Reuters) – Private equity firm CVC Capital Partners is preparing a full takeover of Recordati, Italian daily Il Sole 24 Ore reported on its website on Thursday, sending the Italian pharmaceutical group’s shares up 9%.
A source close to Recordati, however, dismissed the report as “purely speculative rumours”.
CVC, which already has a controlling stake in Recordati, wrote to the company’s board announcing the move, Il Sole 24 Ore reported.
A spokesman for the pharmaceutical group and CVC declined to comment.
(Reporting by Giancarlo Navach, additional reporting by Elvira Pollina and Alvise Armellini; Editing by Gianluca Semeraro and Joe Bavier)