Intesa Sanpaolo Launches €30.6 Billion Takeover Bid for Monte dei Paschi
Intesa Sanpaolo launched a €30.6 billion ($35 billion) takeover bid for Banca Monte dei Paschi di Siena, the world’s oldest bank, after Banco BPM proposed merger talks with the lender. Intesa’s board also backed the purchase of a 3% stake in Generali as part of the offer, and the bank’s chief executive said the move was intended to pre-empt defensive moves.
The competing approaches could redraw Italy’s financial map. Banco BPM said its roughly €50 billion combination with Monte dei Paschi would create the country’s second-biggest bank, while Finance Minister Giancarlo Giorgetti indicated the government would not interfere and that price would determine whether Banco BPM or Intesa Sanpaolo prevail.
From the sources (18 posts)
@businessBanco BPM said it's proposing a merger deal with fellow Italian lender Banca Monte dei Paschi di Siena
@ftItalian bank BPM proposes €50bn merger with Monte dei Paschi
@reutersbizBanco BPM invites MPS to merger talks to create Italy's second-biggest bank
@cnbcBanco BPM invites MPS to $58 billion merger talks to form Italy's second-biggest bank
@reutersItaly's BPM invites MPS to $58 billion merger talks as Intesa, BPER weigh move
@reutersBPM moved on MPS as Intesa, BPER also weighing moves, sources say
@reutersbizBPM moved on MPS as Intesa, BPER also weighing moves, sources say
@zerohedge*INTESA PREPARES JOINT BID WITH BPER FOR MONTE PASCHI: FT
@reutersBanco BPM invites MPS to $58 billion merger talks to form Italy's second-biggest bank
@ftIntesa gatecrashes rival’s bid for Monte dei Paschi with €30.6bn offer
@reutersbizItaly's top bank Intesa launches unsolicited $35 billion bid for Monte dei Paschi
@firstsquawkMONTE PASCHI JUMPS 10% TO HIGHEST SINCE 2022 ON M&A PROPOSALS
@reutersbizIntesa CEO says bank took Generali stake to pre-empt defensive moves
@reutersIntesa's board backs buying 3% Generali stake as part of MPS offer
@reutersIntesa launches $35 billion Monte dei Paschi bid to redraw Italian financial map
@reutersIntesa's board backs buying 3% Generali stake as part of MPS offer
@ftItaly's biggest bank announced a €30.6bn takeover bid for Monte dei Paschi di Siena, the world’s oldest bank.
@businessItaly’s Finance Minister Giancarlo Giorgetti indicated the government won’t interfere in any battle for control of Banca Monte dei Paschi di Siena, saying price will determine whether Banco BPM or Intesa Sanpaolo prevail