Monte dei Paschi Launches €13.3 Billion Bid for Mediobanca to Form Italy's Third-Largest Bank

Jan 24, 2025, 07:03 AM

Banca Monte dei Paschi di Siena (MPS), a bailed-out lender and Italy's oldest bank, announced on Friday that it has launched a €13.3 billion ($13.9 billion) all-share public exchange takeover bid for larger rival Mediobanca SpA. The offer represents a 5.03% premium over Mediobanca's previous closing price. If successful, the acquisition would create Italy's third-largest banking group, reshaping the country's financial landscape in a seismic move. The deal is expected to be completed by the third quarter of 2025. The move has significant implications for Generali, as Mediobanca holds a major stake in the insurance giant. Following the announcement, Mediobanca's shares rose while MPS's shares fell.