ISS Advises MPS Investors to Reject Twin Bids
Proxy adviser ISS has urged Monte dei Paschi di Siena shareholders to vote against proposed twin bids and a special dividend. ISS raised concerns about doubling the bank size during an integration phase.
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Institutional Shareholder Services urged investors in BANCA MONTE DEI PASCHI SIENA to reject twin acquisition bids and a special dividend on October 14. The guidance comes ahead of an October 29 shareholder vote in Italy regarding CEO Luigi Lovaglio's defensive strategy. The expansion plan attempts to block a competing takeover proposal from INTESA SANPAOLO.
