Published by Global Banking & Finance Review®
Posted on February 20, 2025
1 min readLast updated: February 27, 2026
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UniCredit reschedules its shareholder vote to March 27 and increases share issuance to 278 million for the Banco BPM takeover bid, valued at 13.29 billion euros.
MILAN (Reuters) - UniCredit said on Thursday its board has moved up to March 27 a shareholder vote previously scheduled for April 10 to approve issuing new shares to finance a takeover bid for Banco BPM.
Italian bank UniCredit in November launched a 10 billion euro all-share offer for the smaller rival, whose market value has since reached 13.7 billion euros.
UniCredit said it was increasing to 278 million, from a previous 266 million, the maximum number of new shares to be issued to finance the bid, saying the amount covered any misalignment in share prices due to dividend payments. Based on Thursday's closing price, UniCredit's bid is worth up to 13.29 billion euros.
(Reporting by Valentina Za; Editing by Leslie Adler)
The main topic is UniCredit's rescheduled shareholder vote and increased share issuance for its takeover bid of Banco BPM.
UniCredit increased the number of shares to 278 million to cover any misalignment in share prices due to dividend payments.
Based on Thursday's closing price, UniCredit's bid for Banco BPM is valued at up to 13.29 billion euros.
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