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Deutsche Bank upgrades Banca MPS to buy with target price of EUR8.60
Deutsche Bank has upgraded Banca Monte dei Paschi di Siena SpA (BMPS:IM) from Hold to Buy, raising the price target from EUR7.50 to EUR8.60. Analyst Giovanni Razzoli noted that despite a recent recovery, MPS still trades at a 15% discount to peers, but potential benefits from a tender offer for Mediobanca could enhance MPS's earnings and dividends, justifying the upgrade.
global mergers and acquisitions face challenges amid rising activist campaigns and geopolitical tensions
Last year saw a 30% increase in global separation announcements, with over half occurring outside the US, particularly in Europe. Activist investors are intensifying their campaigns, pressuring companies like BP and Honeywell to restructure, while European firms are consolidating amid geopolitical tensions and a need to compete with stronger US rivals. Despite an 8% drop in global M&A volume this year, optimism remains, with expectations of a 10-15% rise driven by corporate activity later in the year.
unicredit threatens to withdraw from banco bpm deal over anima offer
UniCredit has threatened to withdraw its €10bn bid for Banco BPM if shareholders vote to increase the offer for asset manager Anima. The Milanese lender emphasized that any changes to the Anima offer would impact its own proposal, while BPM's leadership criticized UniCredit's tactics as dangerous and hostile. Tensions rise amid ongoing consolidation efforts in Italy's banking sector, with BPM asserting its commitment to a standalone strategy.
unicredit acquires stake in generali amid competitive insurance market tensions
Unicredit has acquired a 4-5% stake in Generali, reflecting opportunistic strategies amid competitive tensions in Italy's financial sector. This move complicates the control contest involving Mediobanca and other stakeholders, as Generali's stock reaches heights not seen since 2007. With a shareholders' assembly approaching in May 2025, Unicredit's position may serve as leverage in the evolving landscape of Italian finance.
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