Market
What will be the outcome of Monte Paschi's takeover bid for Mediobanca by end of 2025?
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Mediobanca SpA•Italy•Mediobanca•Monte Paschi•Delfin•Leonardo Del Vecchio•Francesco Gaetano Caltagirone•Generali
Resolution / Starting Odds
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Story
Monte Paschi Launches €13.3 Billion ($13.9 Billion) Takeover Bid for Mediobanca
Jan 24, 2025, 07:06 AM
Banca Monte dei Paschi di Siena SpA has launched a €13.3 billion ($13.9 billion) all-share takeover bid for Mediobanca SpA, marking a significant move in Italy's banking sector. The offer, which represents a 5% premium over Mediobanca's closing price on the previous day, involves exchanging 23 Monte Paschi shares for every 10 Mediobanca shares. This bid is part of a complex saga involving major shareholders like Delfin, the holding company of the late billionaire Leonardo Del Vecchio, and fellow tycoon Francesco Gaetano Caltagirone, who have stakes in both banks and insurer Generali. Monte Paschi's move comes after years of restructuring and a 2017 bailout, aiming to create a new national banking champion by combining Monte Paschi's commercial banking with Mediobanca's investment banking expertise.
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