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.
41 Articles
41 Articles
The Banca Monte dei Paschi di Siena (MPS) has launched two offers to acquire Banco BPM and Banca Generali through an exchange of shares valued at 34 billion euros. The Italian entity gives a blow to the table with this movement, which seeks to neutralize the offer of Intesa Sanpaolo that weighs on the bank. "MPS launches two voluntary, simultaneous and parallel public offers of exchange for all the ordinary shares of Banco BPM and Banco Generali…
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diarioestrategia.clMonte Dei Paschi Launches Bids in Shares on Banca Generali and Banco BPM, with a Value of 34 Billion
The board of directors of Banca Monte dei Paschi di Siena (MPS) has approved the launch of two voluntary public offers of exchange of shares "simultaneous and parallel" to acquire Bank BPM and Banca Generali for a joint amount of approximately 34 billion euros.The offers, approved by the majority of the governing body of the oldest bank in the world, assembled this Thursday under the presidency of Cesare Bisoni, would aim to create an alternativ…
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
Banca Monte dei Paschi di Siena, the oldest bank in the world, wants to take over two of its Italian competitors. With the acquisitions, Monte dei Paschi wants to prevent it itself from being taken over by the larger Italian bank Intesa Sanpaolo, which made an offer in June.
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.
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