Monte Dei Paschi Bids for BPM and 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.
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The Banca Monte dei Paschi di Siena (MPS) launched on Friday two public stock exchange offers (PAHO) on Banco BPM and Banca Generali with the aim of being established in the third largest banking group in Italy by volume of assets, only behind Intesa Sanpaolo and UniCredit. The movement driven by ... Continue reading "The counter-offensive of the oldest bank in the world to become a new colossus in Italy" The post The counter-offensive of the ol…
After the purchase of the Mediobanca, the Monte dei Paschi di Siena is now reaching for two competitors. This is how it aims to prevent its own destruction.
The Monte dei Paschi di Siena decided to respond to the attack with an offensive. The Italian bank launched this Friday two public offers of acquisition, one on the Bank BPM and one on the Bank Generali, in an operation that can radically transform the map of the Italian bank. According to Reuters, the two offers are made exclusively through shares and evaluate the Bank BPM in about 25.3 billion euros and the Bank Generali in 8,7 billion euros. …
The Italian bank Monte dei Paschi di Siena, founded in 1472 and thus the oldest in the world, is about to fall prey to the great...
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…
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