Monte dei Paschi shares fall 6% after lender launches surprise 13-billion-euro bid for Mediobanca

Monte dei Paschi shares fall 6% after lender launches surprise 13-billion-euro bid for Mediobanca


Key Points
  • Offering 23 of its shares for 10 of its acquisition target, Monte dei Paschi values Mediobanca’s stock at roughly €15.992 each, a 5% premium to the close price of Jan. 23.
  • Monte dei Paschi, the world’s oldest bank, required a state rescue in 2017 after years of crippling losses, but has turned the tides of its fortunes under the leadership of UniCredit veteran Luigi Lovaglio.
  • The Friday offer adds to a picture of heating M&A appetite in Italy’s banking and financial services sector.



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