Intesa offers €30.6bn for Monte dei Paschi di Siena
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- Intesa Sanpaolo announced an unsolicited €30.6 billion ($35.3 billion) offer for Monte dei Paschi di Siena, a 12.5% premium over the bank’s closing share price on Friday.
- Banco BPM had earlier indicated interest in a "merger of equals" with Monte dei Paschi di Siena, prompting its board to unanimously approve a move to discuss the deal.
- Monte dei Paschi di Siena is valued at €27.4 billion and was re‑privatized in 2023 after a 2017 state bailout.
- Credit Agricole, BPM’s main shareholder, said it is “interested in analyzing value creation opportunities which can strengthen BPM.”
- Intesa Sanpaolo shares fell 4% after the unsolicited offer was announced.
- Banco BPM shares fell 1.1% after the bidding war announcement.
- Monte dei Paschi di Siena shares rose 0.9% in early trade.
Why it matters: Intesa’s €30.6bn offer could make it Europe’s second‑largest bank by market cap, while BPM’s rival bid threatens its own growth plans; the market reaction—Intesa down 4% and BPM down 1.1%—shows investor caution, whereas MPS’s 0.9% rise reflects optimism about a potential merger.
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