GBL and CVC raise bid for Recordati after shareholder pressure

GBL and CVC, already holding nearly half of Recordati, have increased their takeover offer for the Italian pharmaceutical group after independent directors and shareholder Palliser Capital deemed the previous 51.29 euros per share bid insufficient. The revised terms are undisclosed, and the outcome hinges on whether the new price wins over the board and minority shareholders. This signals a contested M&A process with potential for further escalation.