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Monte dei Paschi to hold board meeting on M&A situation on Monday - Finance news and analysis from Global Banking & Finance Review
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Monte dei Paschi to hold board meeting on M&A situation on Monday

Published by Global Banking & Finance Review

Posted on October 11, 2026

2 min read

· Last updated: October 11, 2026

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Monte dei Paschi Schedules Board Meeting to Address Intesa Sanpaolo M&A Bid

Key Developments in the Monte dei Paschi and Intesa Sanpaolo Merger Bid

Background of the Takeover Bid

Oct 11 (Reuters) - Italy's Banca Monte dei Paschi di Siena will hold a board meeting late on Monday to take stock of the situation after suitor Intesa Sanpaolo pledged to hike its takeover bid and gained the support of some key MPS investors, three people close to the matter said on Sunday.

Details of Intesa Sanpaolo's Offer

Intesa a week ago said it would increase by 25% the cash component of its €35 billion takeover bid if MPS shareholders rejected a defence plan CEO Luigi Lovaglio has proposed against the bid.

Board Meeting Agenda and Possible Outcomes

The board will discuss the latest developments, one of the sources said, adding it was not clear if any further defence moves could be put to board members.

Shareholder Vote on Defence Plan

To be able to advance his defence scheme, Lovaglio has called a shareholder vote on it on October 29, where he needs a two-third majority approval. But shareholders holding in aggregate some 30% of the bank's capital over the course of the past week said they would not back the project - making it impossible to reach the necessary approval threshold.

Reporting Credits

(Reporting by Nethra Sailesh in Bengaluru, Valentina Za in Milan;Editing by Tomasz Janowski, Francesca Landini)

Key Takeaways

  • Intesa Sanpaolo sweetened its €35 billion takeover bid by boosting the cash component by 25 cents per share, raising it to €1.25 alongside 1.6 new Intesa shares per MPS share (group.intesasanpaolo.com).
  • Major shareholders—including Delfin with 17.6% stake—pledged to tender their shares under the improved offer, bolstering Intesa’s position (live.euronext.com).
  • About 30% of MPS’s capital has already declared opposition to CEO Luigi Lovaglio’s defence plan ahead of the October 29 shareholder vote, making the two‑thirds approval threshold unlikely to be met (ftaonline.com).

References

Frequently Asked Questions

Why is Monte dei Paschi holding a board meeting on Monday?
The board meeting is being held to discuss Intesa Sanpaolo's increased takeover bid and recent support from key MPS investors.
What is Intesa Sanpaolo's latest offer for Monte dei Paschi?
Intesa Sanpaolo pledged to increase the cash component of its €35 billion takeover bid by 25% if shareholders reject a defence plan.
What defence plan has MPS CEO Luigi Lovaglio proposed?
CEO Luigi Lovaglio has put forward a defence scheme against the Intesa takeover, requiring a two-thirds shareholder majority for approval.
When will Monte dei Paschi shareholders vote on the defence plan?
The shareholder vote on the defence plan is scheduled for October 29.
Is it likely that the defence plan will be approved by shareholders?
It appears unlikely, as shareholders representing about 30% of the bank's capital have said they will not support the plan.

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