Italy’s Banco BPM Rebukes UniCredit’s $10 Billion-Plus Bid
The Italian lender rejected the offer from its larger rival, saying it undervalues the bank and creates uncertainty.
BPM spurns UniCredit’s takeover bid
The bank blasted what it sees as a weak premium. Its CEO warned a deal would cost BPM 6,000 jobs. And Italian officials expressed concern that a UniCredit tie-up would stall efforts to grow BPM.
Italy's UniCredit launches surprise $11 billion all-share bid for Banco BPM
Italy's UniCredit on Monday launched a surprise 10 billion euro ($11 billion) bid for domestic peer Banco BPM, which CEO Andrea Orcel said would take precedence over any potential move on Germany's Commerzbank.
Italy’s UniCredit makes buyout offer for Banco BPM
"Italy’s UniCredit makes buyout offer for Banco BPM" was originally created and published by Retail Banker International, a GlobalData owned brand.
Italy’s UniCredit to buy domestic rival Banco BPM in €10.1B deal
The move pauses speculation that UniCredit was considering a bid for Germany’s Commerzbank. It also foils a plan by the Italian government to boost competition against UniCredit and its peer, Intesa Sanpaolo.
Banco BPM boss warns of job losses in UniCredit deal
Italy's Banco BPM, the target of an unsolicited all-share offer announced by UniCredit, should remain an independent bank, its CEO said in a letter to staff on Wednesday, warning of big job cuts if the deal went through.
Banco BPM rejects UniCredit takeover bid
In its first comments since UniCredit made its all-share offer, BPM said it remained “focused on the implementation of its 2023-2026 business plan and on its takeover of [asset manager] Anima”. UniCredit on Monday launched a €10.
Banco BPM Says UniCredit Bid Doesn’t Reflect Its Profitability
Banco BPM SpA said the takeover bid it has received from UniCredit SpA wasn’t agreed in advance and isn’t in line with its performance.
Banco BPM board member says UniCredit bid is hostile, ANSA reports
UniCredit's surprise bid for Italy's Banco BPM is hostile, a board member of the smaller lender told Italian newswire ANSA on Tuesday. He was speaking ahead of a Banco BPM board meeting for an initial discussion on the 10 billion euro ($10.
Over 6,000 job losses if UniCredit takes over says BPM
ROME, NOV 27 - The CEO of Banco BPM, Giuseppe Castagna, wrote a letter to staff Wednesday saying there would be estimated job losses of at least 6,000 if Italy's second-biggest bank UniCredit succeeds in its hostile takeover bid for the country's third-biggest.
Banco BPM Responds to UniCredit’s Share Offer
Banco BPM S.p.A. (IT:BAMI) has released an update. UniCredit has launched a public voluntary exchange offer for all shares of Banco BPM, which was
Italy's League announce bill to overhaul central bank's governance
Italy's co-ruling League party said on Tuesday it was drawing up a bill to boost politicians' powers to name senior central ...
Italy’s $1 Houses Are Back. Here Are An Expert’s Top Mistakes To Avoid
One town in Italy recently relaunched its €1 ($1.06) houses initiative in response to the results of the US election.
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Italy's Banco BPM Says UniCredit Bid Insufficient
The board of directors of Italy's Banco BPM said Tuesday that an acquisition bid from larger rival UniCredit was inadequate and failed to reflect the bank's profitability or potential. UniCredit, ...
How Italy Swayed Its Tycoons to Pile Into Master Plan for Paschi
A little over a week ago, Italian Finance Minister Giancarlo Giorgetti approached some of the country’s wealthiest investors ...
5 things about the world's oldest bank that Italy sold it's stake in
Following an overpriced €9 billion acquisition in 2007, the Banca Monte dei Paschi di Siena went through a period of ...
Italian lender UniCredit proposes $10.5 billion acquisition of rival Banco BPM
UniCredit, Italy's prominent lender, made a proposal on Monday to acquire its domestic competitor Banco BPM for approximately ...
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Libyan Foreign Bank and Italy’s SIMEST strengthen ties to boost investments
The Libyan Foreign Bank held high-level talks in Rome with the senior management of SIMEST, the Italian firm dedicated to ...