Monte dei Paschi Launches €13.3 Billion All-Share Hostile Takeover Bid for Mediobanca by Q3 2025

Jan 24, 2025, 09:04 AM

Banca Monte dei Paschi di Siena SpA has launched a €13.3 billion ($13.9 billion) all-share takeover bid for Mediobanca SpA, aiming to create a new national banking champion in Italy. The offer, which values Mediobanca at a 5.03% premium over its closing price, is set to be completed by the third quarter of 2025. The move has been met with opposition from Mediobanca, which considers the bid hostile. The Italian government, holding an 11.7% stake in Monte dei Paschi, has not imposed any limits on the operation. Key shareholders in both banks, including Delfin, the holding company of the late Leonardo Del Vecchio, and Francesco Gaetano Caltagirone, are also significant stakeholders in Generali, where Mediobanca holds a 13.1% stake. The proposed merger would result in the delisting of Mediobanca from Euronext Milan, aiming to integrate and grow the combined entity into a major player in Italy's banking sector.