UniCredit's Bold $11B Bid for Banco BPM Sparks Controversy
TL;DR Summary
Banco BPM is set to discuss UniCredit's unsolicited $11 billion takeover bid, which has unsettled the Italian government and complicated efforts to form a new banking group in Italy. UniCredit's CEO Andrea Orcel has long targeted Banco BPM, and the bid comes amid recent deals that could reshape the Italian banking landscape. The offer values Banco BPM at €10.1 billion, but analysts note the premium is limited. Banco BPM's investors include Credit Agricole, which may have increased its stake through equity swaps.
- Banco BPM to Discuss UniCredit’s Unsolicited $11 Billion Bid Yahoo Finance
- Banco BPM says UniCredit's 'unusual' $10.5 billion takeover offer does not reflect its profitability CNBC
- UniCredit’s journey from foreign predator to domestic consolidator Financial Times
- UniCredit Makes Surprise $10.5 Billion Bid for Italian Rival The Wall Street Journal
- UniCredit irks Rome with $11 billion Banco BPM swoop after German backlash Reuters
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