Mediobanca Reiterates Opposition to Monte Paschi Takeover Bid

Corriere Della Sera

Center

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The document approved in cda, without the vote of Delfin. Monday part l'Ops of Siena

Il Fatto Quotidiano

Lean Left

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The price is not fair, on the contrary it is not reasonable and completely inadequate. It is the final response of the Board of Directors of Mediobanca on the offer that the Monte dei Paschi di Siena of the Ministry of Economy, Del Vecchio, Bpm and Caltagirone has launched on Piazzetta Cuccia. The offer previews the exchange of 2,533 Montepaschi shares for each title Mediobanca and will start on July 14. From Milan they reaffirm that it must be …

agenzianova.com

Factuality

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"The provision of a double threshold—one set at 66.67 percent (as a quorum sufficient to control the Extraordinary Shareholders' Meeting), the other set at the much lower level of 35 percent—denotes opaqueness regarding the true purpose of the Offer. In particular, the second—and non-waivable—threshold of 35 percent signals the intention to complete the transaction, even given the significant risks of disinheritance and value destruction that ch…

Quotidiano Nazionale

Factuality

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The Mediobanca cda considers the offer of Mps "hostile and not agreed," "without industrial rationality and convenience for the shareholders of the bank." The consideration offered, then, is considered "not reasonable and completely inadequate." The indication arrives at the end of the Board of Directors of the Piazzetta Cuccia institute that evaluated the OPs launched by the Sienese bank. In particular, it is claimed that the forecast of a doub…