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Monte dei Paschi shareholders reject exchange offer to acquire Banco BPM - Finance news and analysis from Global Banking & Finance Review
Finance

Monte dei Paschi shareholders reject exchange offer to acquire Banco BPM

Published by Global Banking & Finance Review

Posted on October 29, 2026

1 min read

· Last updated: October 29, 2026

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Monte dei Paschi Shareholders Block Exchange Offer for Banco BPM Acquisition

Shareholder Vote and Acquisition Proposal

Background of the Exchange Offer

SIENA, Oct 29 (Reuters) - Banca Monte dei Paschi's shareholders on Thursday rejected, with 91% of votes, CEO Luigi Lovaglio's proposal for an exchange offer to buy rival mid-sized lender Banco BPM

Details of the Shareholder Vote

Reporting and Editorial Credits

(Reporting by Valentina Za, writing by Francesca Piscioneri, editing by Alvise Armellini)

Key Takeaways

  • The exchange offer for Banco BPM was part of a €34 billion all‑share defence plan, including Banca Generali, designed to counter Intesa Sanpaolo’s hostile €33–36 billion takeover bid (live.euronext.com).
  • Governance advisers ISS and Glass Lewis had recommended shareholders reject the proposals, citing concern over complexity and integration risks as MPS was already integrating its Mediobanca acquisition (marketscreener.com).
  • Key shareholders including Delfin and Caltagirone opposed the plan, aligning with Intesa’s bid and making the required two‑thirds shareholder approval impossible (sa.marketscreener.com).

References

Frequently Asked Questions

What proposal did Monte dei Paschi shareholders reject?
Shareholders rejected CEO Luigi Lovaglio's exchange offer to acquire Banco BPM.
How did Monte dei Paschi shareholders vote on the acquisition offer?
91% of Monte dei Paschi shareholders voted against the exchange offer.
Who is the CEO of Monte dei Paschi?
The CEO of Monte dei Paschi is Luigi Lovaglio.
What was the goal of the rejected exchange offer?
The exchange offer aimed to acquire rival mid-sized lender Banco BPM.
Where is Monte dei Paschi based?
Monte dei Paschi is based in Siena, Italy.

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