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UniCredit's Bold $11B Bid for Banco BPM Sparks Controversy

1 min read
Source: Yahoo Finance
UniCredit's Bold $11B Bid for Banco BPM Sparks Controversy
Photo: Yahoo Finance
TL;DR

Banco BPM is set to discuss UniCredit's unsolicited $11 billion takeover bid, which has unsettled the Italian government and complicated efforts to form a new banking group in Italy. UniCredit's CEO Andrea Orcel has long targeted Banco BPM, and the bid comes amid recent deals that could reshape the Italian banking landscape. The offer values Banco BPM at €10.1 billion, but analysts note the premium is limited. Banco BPM's investors include Credit Agricole, which may have increased its stake through equity swaps.

Topics:top-newsbusiness#andrea-orcel#banco-bpm#business#italian-banking#takeover-bid#unicredit
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  1. Banco BPM to Discuss UniCredit’s Unsolicited $11 Billion Bid  Yahoo Finance
  2. Banco BPM says UniCredit's 'unusual' $10.5 billion takeover offer does not reflect its profitability  CNBC
  3. UniCredit’s journey from foreign predator to domestic consolidator  Financial Times
  4. UniCredit Makes Surprise $10.5 Billion Bid for Italian Rival  The Wall Street Journal
  5. UniCredit irks Rome with $11 billion Banco BPM swoop after German backlash  Reuters

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