Italy’s Intesa launches Monte dei Paschi takeover bid

Industry:    12 hours ago

Intesa Sanpaolo on ​Monday launched a bid to ⁠acquire all shares of ​Banca Monte Dei Paschi Di ​Siena (MPS), the company said.

Intesa said its share-and-cash offer entailed a ​premium of 12.5% versus ​Monte dei Paschi’s closing share price ‌on Friday.

Intesa said in a statement it had entered a deal with insurer ​Unipol, the ​main ⁠investor in BPER Banca, to sell the ​retail banking activities ​of ⁠MPS if its bid were successful.

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