Intesa Sanpaolo Bids 30.6 Billion Euros for MPS
Intesa Sanpaolo has launched an unsolicited cash-and-share offer for Monte dei Paschi di Siena just one day after Banco BPM proposed a merger of equals. The deal includes a branch sale to Unipol and BPER to address competition concerns while creating the euro zone's second-largest banking group.
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INTESA SANPAOLO launched a €30.6 billion cash-and-share bid for MONTE DEI PASCHI DI SIENA SPA on Monday. The unsolicited offer follows a rival merger proposal from BANCO BPM SPA announced on Sunday. This consolidation battle for the world's oldest bank would create the second-largest banking group in the euro zone by market value.
