Launching an unwelcome takeover of a rival bank used to be a sign of dangerous excess. These days, it seems to be the most logical option available to would-be acquirers. Three bids and one possible approach are currently on the table in Europe,
Mediobanca's board will meet on Tuesday to discuss a bid for the Italian merchant bank by state-backed Monte dei Paschi di Siena (MPS), a person close to the situation said. On Friday, MPS joined the consolidation wave sweeping Italian banking with a 13.
Milan: Mediobanca s board of directors on Tuesday rejected a 13.3 billion euro takeover bid by smaller rival Monte dei Paschi di Siena (MPS).
Italian bank Monte dei Paschi di Siena has announced it is launching a 13.3 billion euro takeover bid for larger peer Mediobanca in a surprise move that could reshape the country’s banking ...
On Friday, MPS joined the consolidation wave sweeping Italian banking with a 13.3 billion euro ($13.96 billion) all-share offer to buy Mediobanca, which was welcomed by the Italian government ...
Italian Bank Monte Dei Paschi Launches 13 Billion Euro Takeover Bid for Peer Mediobanca ROME (AP) — Italian bank Monte dei Paschi di Siena announced Friday it was launching a 13.3 billion euro ...
Italian bank Mediobanca on Tuesday rejected a takeover offer by state-backed rival Monte dei Paschi di Siena , saying a tie-up would be detrimental to its shareholders because it lacked any strategic and financial rationale.
Mediobanca rejected a 13.3 billion-euro takeover attempt by Monte dei Paschi, citing a lack of industrial logic and potential shareholder value destruction. The bid aimed to create Italy's third-largest bank with significant synergies.
Shares in Monte dei Paschi (MPS) fell again on Monday, extending Friday's losses, signalling lingering investor doubts over the bailed out Tuscan bank's bid for bigger rival Mediobanca .
MPS shares were down 1.6% by 0820 GMT, having fallen 2% on Monday and 7% on Friday. Based on the proposed exchange ratio, that entails a value of 14.735 euros for each Mediobanca share, which on Tuesday traded instead at 16.435 euros.
Milan mayor Giuseppe Sala on Wednesday sided with Mediobanca in a takeover battle launched by state-backed Monte dei Paschi di Siena (MPS), signalling the financial saga was becoming increasingly political.