Banco BPM SpA is getting ready to address UniCredit SpA's unexpected $11 billion takeover bid, which has caused significant disruption in financial markets and raised concerns within the Italian government.

The board of directors of the regional lender is scheduled to meet on Tuesday for a previously arranged session, where the unsolicited offer will likely be a primary topic of discussion.

Sources familiar with the situation indicate that the meeting will focus on the implications of UniCredit's proposal, which was revealed just a day prior.

Investors are closely monitoring the developments, anticipating Banco BPM's response to the bid that has captured the attention of the financial community.