Published by Global Banking & Finance Review®
Posted on June 5, 2025
1 min readLast updated: January 23, 2026
Add as preferred source on GoogleGlass Lewis advises Mediobanca shareholders to approve the Banca Generali acquisition to counter MPS's bid. The vote is set for June 16.
(Drops word in headline, corrects day of publication in paragraph 2)
MILAN (Reuters) - Proxy adviser Glass Lewis said it had recommended Mediobanca's investors vote in favour of the merchant bank's bid for Banca Generali at a general meeting on June 16.
"The proposed offer represents a substantial opportunity for Mediobanca shareholders", it said in a report published on Wednesday.
Mediobanca proposed buying Banca Generali in April as it seeks to stave off a buyout bid from Monte dei Paschi di Siena (MPS).
Due to the MPS bid and Italian corporate takeover rules, Mediobanca must first seek shareholders' approval to pursue the Banca Generali deal and has called a meeting for June 16 to vote on the plan.
(Reporting by Gianluca Semeraro, editing by Enrico Sciacovelli)
Glass Lewis recommended that Mediobanca's investors vote in favor of the bank's bid for Banca Generali.
The general meeting for Mediobanca shareholders is scheduled for June 16.
Mediobanca must seek shareholder approval due to a competing buyout bid from Monte dei Paschi di Siena and Italian corporate takeover rules.
The proposed offer represents a substantial opportunity for Mediobanca shareholders, according to Glass Lewis.
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