Intesa Sanpaolo Counters Banco BPM's Proposal with €30.6bn Bid for Monte dei Paschi
Intesa Sanpaolo has proposed a cash-and-share offer worth €30.6 billion for Monte dei Paschi di Siena, countering an earlier merger proposal from Banco BPM. The deal aims to create the euro zone’s second-largest listed banking group by market value after Santander with a combined valuation of €126 billion and projected net income of €16 billion in 2029.
Topics: banks Italy mergers and acquisitions