Intesa Sanpaolo has announced that it has filed a complaint with the Consob the offer document, intended for publication, relating to the voluntary public purchase and exchange offer for all the shares of Monte dei Paschi di Siena BankThis is the first formal step after the group led by Charles Messina announced on June 8th the launch of the 30,6 billion euro offerThe operation would create the second-largest banking group in the Eurozone by market capitalization.
Intesa Sanpaolo's bid for MPS arrives at Consob.
Intesa Sanpaolo has filed with Consob after submitting the necessary requests and communications to obtain authorization from the supervisory authorities. Once all approvals are received, the document will be published. the offer period will start which, according to some forecasts, could happen in NovemberThe completion of the transaction between Intesa and MPS, as indicated in the press release, is expected in any case December 2026Once the filing with Consob has been completed, Intesa Sanpaolo will begin work to prepare the meeting of September 10th for the capital increase to service the operation for Monte dei Paschi.
Intesa Sanpaolo's bid for MPS: the numbers and its stake in Generali
The takeover bid values the shares of the Sienese bank 10,091 euros each and is structured with a consideration in shares of 1,6 Intesa Sanpaolo shares and a cash component of one euro for each Monte dei Paschi share, with a prize of the 12,5 % compared to the official price of Monte on the Stock Exchange on June 5th. The maximum overall value of the offer, in the event of full acceptance, will be approximately 30,6 billion eurosThe group resulting from the operation between Intesa Sanpaolo and MPS, with a strong all-Italian shareholding, aims to achieve a net profit of 16 billion euros by 2029 and will benefit from the ability to generate revenues on a European scale based on a resilient business model focused on wealth management, protection & advisory, with a leadership in wealth management strengthened by a focus on high net worth clients and by client financial assets of approximately €2.000 trillion. Furthermore, with the transaction, Intesa Sanpaolo will hold a 13,3% stake in Generali currently held by Mediobanca.
