MPS Warns Intesa Bid Leaves Uncertainties
Monte dei Paschi di Siena stated that Intesa Sanpaolo's sweetened takeover offer leaves investors exposed to risks while forcing them to abandon a counter plan. Major shareholders plan to accept the bid anyway.
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BANCA MONTE DEI PASCHI SIENA warned on Monday that INTESA SANPAOLO's sweeten takeover bid leaves investors exposed to uncertainties while forcing them to abandon an alternative plan. The €34B cash-and-share offer comes with an extra €800M cash sweetener conditional on rejecting the counter-strategy.
