Intesa Sanpaolo Sweetens Monte dei Paschi Bid, Gains Investor Support
Intesa Sanpaolo has increased its offer for Monte dei Paschi di Siena, now a €34 billion ($38 billion) share-and-cash bid, and secured the backing of the target's primary investor. The move by Italy's largest lender aims to acquire the country's largest mid-sized bank.
Italy’s Intesa Sanpaolo has improved its €34 billion ($38 billion) share-and-cash offer for Monte dei Paschi di Siena MIL:BMPS and secured support from the target’s main investor. The proposal by Italy’s largest lender for the country’s biggest mid-sized bank has also stirred competition concerns.