Monte Dei Paschi's All-Share Bids for BPM, Banca Generali
The bids would create Italy’s third-largest banking group by assets and target about €2.6 billion in annual pre-tax synergies, MPS said.
- On Friday, Monte dei Paschi di Siena launched simultaneous all-share takeover bids worth about €34 billion for rival Banco BPM and wealth manager Banca Generali, escalating a battle reshaping Italy's banking sector.
- Intesa Sanpaolo's hostile takeover approach worth around €30.5 billion euro prompted the board to approve CEO Luigi Lovaglio's defensive plan on Thursday, opposing the rival's attempt to absorb MPS.
- Valuing targets at about €25.3 billion and €8.7 billion respectively, the twin deals would create Italy's third-largest banking group, with MPS proposing an "extraordinary distribution" of €4 billion and estimated annual pre-tax synergies of around €2.6 billion.
- Deputy Prime Minister Matteo Salvini defended the bank's revival on Thursday, while Italia Viva senator Ivan Scalfarotto criticized the government's involvement, calling it "absurd and inexplicable" and urging neutrality.
- Market response on Thursday showed Generali shares advancing 2.08%, while the bids require shareholder and regulatory approval with completion targeted by mid-February 2027.
26 Articles
26 Articles
Monte Paschi attempts the double acquisition of Banco BPM and Banca Generali - This is an aggressive move against the proposed acquisition of it by Intesa Sanpaolo and a reorganization of the banking map
The Italian bank wants to take over the competitors Banco BPM and Banca Generali. Behind the billions advance lies the goal to avert a hostile takeover.
He presented two offers of purchase for Banco BPM and Banca Generali, so as to become too big to be bought
Rome, 21 Aug. - (Adnkronos) - To a total of about 34 billion euros the two voluntary public offers of exchange, contextual and parallel, entirely in shares, that Mps will launch on the total of the ordinary shares of Banco Bpm and Banca Generali. In the first case - we read in a press release - the offer will have an equivalent of approximately 25,3 billion (with 1,567 securities per single share) while that on Banca Generali will pile to approx…
The Monte dei Paschi plan to counter the 30.6 billion Offer launched by Intesa Sanpaolo was approved yesterday by the Board of Directors of Mps. It passed with...
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