Intesa Sanpaolo Raises Monte dei Paschi Takeover Offer Price
Intesa Sanpaolo has raised its takeover offer price for Monte dei Paschi di Siena (MPS). The Italian bank also stated that it may drop its bid if MPS rejects its counter-plan, offering shareholders an additional €800 million ($900 million) in cash.
Italy's Intesa Sanpaolo MILSEDEX:I05808 on Saturday lifted its takeover offer for Monte dei Paschi di Siena (MPS) MIL:BMPS, saying it would pay shareholders an additional €800 million ($900 million) in cash if they reject MPS's counter plan. MPS CEO Luigi Lovaglio is seeking shareholder approval in a vo…