Intesa Sanpaolo's bid for Monte dei Paschi wins top investor backing
Intesa Sanpaolo's bid for Monte dei Paschi di Siena has moved closer to securing its takeover target after the largest shareholder in MPS, Delfin, agreed to accept Intesa's improved offer.
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06:52:48 AM UTC
SquawkNews
By Adria CalatayudIntesa Sanpaolo sweetened its takeover bid for Banca Monte dei Paschi di Siena to 31.4 billion euros ($35.34 billion), but warned it could pull out if shareholders in its target back rival deals.Italy's Intesa said Saturday that it would increase the cash component of its cash-and…
07:01:49 AM UTC
SquawkNews
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Italy's biggest bank Intesa Sanpaolo MILSEDEX:I05808 moved closer to securing its takeover target Monte dei Paschi di Siena MIL:BMPS after the largest shareholder in MPS agreed to accept Intesa's improved offer. 6% of MPS, has committed to back the bid.