Banco BPM Rejects UniCredit’s €10B Bid
Banco BPM SpA, Italy’s third-largest bank, has rejected a €10 billion ($10.5 billion) takeover bid from UniCredit SpA, which aimed to create the country’s largest banking entity. Banco announced Tuesday that UniCredit’s offer undervalued its financial strength and future growth potential,
Banco BPM says UniCredit's ‘unusual' $10.5 billion takeover offer does not reflect its profitability
Italian lender Banco BPM on Tuesday said the unexpected takeover offer by domestic rival UniCredit does not reflect its profitability and could reduce its legal autonomy. UniCredit offered to snap ...
Shares in Banco BPM closed up 5.5% on Monday at 7 euros, above the 6.657 euros a share offered by UniCredit in its all-share offer - a sign the market sees the bid's 0.5% premium as too low. Orcel ...
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