Results from Banco BPM's shareholder meetings or official press releases.

UniCredit Makes €10.1 Billion All-Share Bid to Acquire Banco BPM, Italy's Third Largest Bank

Nov 25, 2024, 08:07 AM

UniCredit SpA has made a surprise €10.1 billion ($10.5 billion) all-share bid to acquire rival Italian bank Banco BPM, offering 0.175 UniCredit shares for each Banco BPM share. The proposed acquisition would combine Italy's second and third largest banks, aiming to consolidate the fragmented European banking sector and expand their pan-European presence. The Italian government was informed prior to the announcement and is now assessing the implications of this bid on its plans to create a third major banking group in the country.