Crédit Agricole Proposes Banco BPM Merger With 20% Premium
Crédit Agricole said it approached Banco BPM about a potential combination with Crédit Agricole Italia, offering Banco BPM shareholders a 20% valuation premium and a €1 billion extraordinary dividend. The proposal was submitted to Banco BPM’s board.
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08:58:38 AM UTC
SquawkNews
PARIS (dpa-AFX) - Crédit Agricole S.A. (ACA.PA), a France-based banking group, said Monday that it has proposed discussions with Banco BPM S.p.A. on a potential merger with its Italian subsidiary, Crédit Agricole Italia, in a deal that would create Italy's third-largest banking group.The combined e…
The French banking giant said on Monday that it had approached Banco BPM about a potential combination with Crédit Agricole Italia, offering a 20% valuation premium and a €1bn extraordinary dividend to Banco BPM's existing shareholders.The proposed deal, which has been submitted to Banco BPM's boar…