Italy's Intesa raises MPS takeover offer price and warns it could drop bid
42 Articles
42 Articles
The cda of the bank led by Messina sends an ultimatum to the members of Montepaschi: they will have to reject the plan of Lovaglio to the next assembly of 29 October, otherwise will fade the offer, raised of 25 cents. The article Riparte il risiko: Intesa raises the Opas on Mps comes from La Verità.
The improved proposal was announced on Saturday and raises to EUR 1.25 per share the cash component that Intesa offers to MPS shareholders, against the euro per share originally foreseen.
With an extraordinary board of directors Intesa San Paolo the group led by Carlo Messina increased the cash consideration of the public offer of purchase and exchange on MPS of 0.25 euros. An extraordinary meeting that of the group led by Carlo Messina convened a few weeks from the assembly of 29 October of Monte and before the arrival of [...] The article Intesa San Paolo convenes the cda and raises 25 cents per share the offer on Mps. But only…
The extraordinary cda decides to raise on the Sienese institution: 3.8 billion will be paid in cash and 27.6 billion in shares. The total transaction rises to 31.4 billion
Italy's Intesa raises MPS takeover offer price and warns it could drop bid
Italy's Intesa Sanpaolo raised its takeover offer for Monte dei Paschi di Siena (MPS) on Saturday, saying it would pay shareholders a further €800 million ($900 million) in cash if they reject MPS's counter plan.
Intesa Sanpaolo on Saturday raised its bid for Monte dei Paschi di Siena (MPS), increasing the cash component offered for MPS shares from the previous 1 euro to 1.25 euros per share, in addition to 1.6 newly issued Intesa shares. The Italian banking giant has thus offered MPS shareholders an additional 800 million euros in cash in the event that they reject the counter-offer prepared by management.
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