Published by Global Banking & Finance Review®
Posted on January 26, 2025
1 min readLast updated: January 27, 2026
Add as preferred source on Google
Mediobanca's board will review MPS's 13.3 billion euro bid, which offers 23 shares for every 10 Mediobanca shares, amid mixed market reactions.
MILAN (Reuters) - Mediobanca's board will meet on Tuesday to discuss a bid for the Italian merchant bank by state-backed Monte dei Paschi di Siena (MPS), a person close to the situation said.
On Friday, MPS joined the consolidation wave sweeping Italian banking with a 13.3 billion euro ($13.96 billion) all-share offer to buy Mediobanca, which was welcomed by the Italian government, but puzzled analysts and investors.
In a letter sent to staff on Saturday and seen by Reuters, Mediobanca's Chief Executive Alberto Nagel said the MPS offer had not been agreed with the bank and that the board would express its views, with the aim of protecting the interests of all stakeholders, particularly employees.
On Friday, a person close to the situation told Reuters that MPS offer was not friendly, though not unexpected.
MPS is offering 23 of its own shares for every 10 Mediobanca shares tendered, representing a 5% premium to Thursday's closing price. However MPS shares lost 7% on Friday, meaning the offer now implies a 1.2 billion euro discount to the market price.
($1 = 0.9530 euros)
(Reporting by Gianluca Semeraro, editing by Tomasz Janowski)
The main topic is Mediobanca's board reviewing a 13.3 billion euro bid from MPS.
MPS is offering 23 of its shares for every 10 Mediobanca shares.
MPS shares fell 7%, resulting in a discount to the market price.
Explore more articles in the Finance category
