MPS has approved two separate share swap offers to Banco Bpm and Banca Generali as part of its strategy to counter Intesa Sanpaolo’s bid. The move comes after the bank’s board of directors gave its green light to CEO Luigi Lovaglio’s plan. The offers are intended to provide an alternative to Intesa’s proposal, which was launched earlier this year.
The dual offers include a mix of cash and shares, with a total value of 1 billion euros in cash and 3 billion euros in shares. The plan aims to strengthen MPS’s position in the Italian banking sector by securing key assets. The offers are part of a broader effort to resist Intesa’s takeover attempt.
The decision marks a critical step in the ongoing battle for control of MPS. While the offers have been approved, challenges remain in finalizing the deals. The situation remains under close watch as both sides continue negotiations. The outcome could reshape the Italian banking landscape.
