(Il Sole 24 Ore Radiocor) - Milano, 26 mar - Recordati shares were suspended for excessive share price gains, following a report that its largest investor, the private equity group CVC, is preparing a public takeover offer for the Italian pharmaceutical group.

Before the trading suspension, Recordati shares last changed hands in Milan stock exchange trading at 50.45 euros, up 9% compared to the previous close.

According to a report in the Italian financial daily Il Sole 24 Ore, CVC is said to have sent a letter to the Recordati board revealing its bid plans. The newspaper pointed to rumors that CVC would launch the offer in tandem with other private equity funds.

CVC currently owns 46.82% of Recordati via the holding company Rossini, in which the company's current chairman Andrea Recordati is also a shareholder.

CVC did not comment on the rumors.

(RADIOCOR) 26-03-26 12:56:05 (0383) 5 NNNN