UniCredit Launches $10.57 Billion All-Share Takeover Bid for Banco BPM

Nov 25, 2024, 06:32 AM

Italian lender UniCredit has launched a takeover bid for rival Banco BPM. The offer, valued at approximately $10.57 billion, is an all-share deal that proposes 0.175 UniCredit shares for each Banco BPM share. This move aims to combine Italy's second and third largest banks, thereby expanding their pan-European presence and stepping up the consolidation of Europe's fragmented banking sector.