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UniCredit has received final approval from Italy's market watchdog Consob for its €14 billion all-share bid for Banco BPM, allowing the offer to commence on April 28 and run until June 23. The bank will exchange 0.175 of its newly-issued shares for each Banco BPM share. This bid is part of a series of significant moves in the Italian banking sector, which has recently seen record profits amid rising interest rates.
UniCredit has received final approval from Italy's market watchdog Consob for its €14 billion all-share bid for Banco BPM, allowing the tender offer to commence on April 28 and run until June 23. The bank is offering 0.175 newly-issued shares for each Banco BPM share, following prior approval from the European Central Bank. This bid is part of a series of significant moves in the Italian banking sector, which has recently seen record profits amid high interest rates.
UniCredit has received final approval from Italy's market watchdog Consob for its €14 billion all-share bid for Banco BPM, allowing the tender offer to commence on April 28 and run until June 23. The bank is offering 0.175 newly-issued shares for each Banco BPM share. This bid is part of a series of hostile takeovers in the Italian banking sector, which has recently seen record profits amid high interest rates.
UniCredit has warned it may withdraw its buyout offer for Banco BPM if shareholders approve a more expensive bid for Anima Holding. Banco BPM's proposal, which requires shareholder approval on February 28, aims to align the bid's price with the market, but faces uncertainty regarding the European Central Bank's capital rules. If the price increase is approved, major Anima investors are likely to sell their stakes to Banco BPM.
Cristina Carlevaro
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unicredit secures approval for banco bpm takeover bid starting april 28
08:14 02.04.2025
unicredit secures approval for banco bpm share offer starting april 28
08:14 02.04.2025
unicredit secures approval for banco bpm share offer starting april 28
08:14 02.04.2025
unicredit warns of withdrawal from banco bpm offer amid rising anima bid costs
Euro
Anima Holding SpA
Banco BPM S.p.A.
UniCredit S.p.A.
Poste Italiane S.p.A.
ITA
Barbara Lewis
Valentina Za
Cristina Carlevaro
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