All articles tagged with #banco bpm
Banco BPM has rejected a $10.5 billion takeover offer from UniCredit, stating that the bid undervalues its profitability and potential for growth. The offer, which was unexpected and presented on unusual terms, also risks diluting Banco BPM's geographical focus by aligning it with UniCredit's expansion plans in Germany. The proposed all-stock deal offers a minimal premium on Banco BPM's current share price.
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.
UniCredit has made an unexpected $11 billion bid for Banco BPM, prioritizing Italian banking consolidation over potential moves on Germany's Commerzbank. This move comes after Banco BPM's recent acquisition of a stake in Monte dei Paschi di Siena and a bid for Anima Holding. The Italian government plans to review the bid, highlighting political resistance to large bank mergers in Europe. UniCredit's offer includes a slight premium and aims for significant merger benefits, while Banco BPM's board will discuss the proposal.
UniCredit has offered to acquire Italian rival Banco BPM for approximately $10.5 billion in an all-stock deal, aiming to consolidate its position as a leading pan-European banking group. This move is part of a broader trend of mergers in the European banking sector, although it is separate from UniCredit's ongoing interest in increasing its stake in German bank Commerzbank. The offer represents a slight premium over Banco BPM's recent share price.