Monte dei Paschi offers 13.3 billion euros for Mediobanca, part of M&A trend in Italy.

From CNBC: 2025-01-24 04:22:35

Italy’s Monte dei Paschi di Siena launches a 13.3 billion euro takeover bid for Mediobanca, offering 23 shares for every 10 Mediobanca shares. The offer values Mediobanca’s stock at €15.992 each, a 5% premium. Monte dei Paschi’s equity is worth 8.7 billion euros, while Mediobanca’s market cap is 12.3 billion euros.

After needing a state rescue in 2017, Monte dei Paschi has seen a turnaround under Luigi Lovaglio’s leadership. This offer is part of a trend of M&A activity in Italy’s banking sector, with UniCredit offering to buy Banco BPM and Banco BPM seeking to acquire Anima Holding.

Read more: Monte dei Paschi makes 13-billion-euro bid for Mediobanca