Banca Monte dei Paschi di Siena (BMPS) successfully acquired the majority of Mediobanca after shareholders accepted its takeover offer, reaching 62.3% of Mediobanca’s share capital. The deal, valued at €16.334 per share, includes a €0.90 cash payment and share exchange. BMPS plans to increase its stake further with a reopened acceptance period. The acquisition signals the end of Mediobanca’s era as Italy’s largest independent investment bank and could lead to the departure of its CEO, Alberto Nagel. Nagel, who has been with the bank since 1991 and became CEO in 2008, is reportedly preparing to step down, but no final decisions have been confirmed yet.

Read more at Yahoo Finance: Monte dei Paschi secures 62.3% of Mediobanca shares