Business · Companies · 3 hrs ago
MPS calls emergency board meeting after Intesa bid changes
Monte dei Paschi di Siena, known as MPS, has called an extraordinary board meeting for Monday afternoon.
The meeting follows a change to Intesa Sanpaolo’s offer for the bank.
More than a third of MPS shareholders have said they intend to reject an alternative plan put forward by MPS chief executive Luigi Lovaglio.
His plan includes offers for Banco BPM and Banca Generali, along with a special dividend of 4 billion euros.
The board will consider how to respond to Intesa’s revised offer.
It may also hear countermeasures from Lovaglio aimed at resisting Intesa’s move.
The sources do not say what decision the board will make.
MPS has called an extraordinary board meeting for Monday afternoon after Intesa Sanpaolo revised its offer.
The meeting will consider the new scenario created by the change to Intesa’s offer and opposition to MPS’s alternative plan.
A shareholder group holding more than one-third of MPS’s capital has said it intends to reject that plan.
The alternative plan, developed by MPS chief executive Luigi Lovaglio, includes offers for Banco BPM and Banca Generali and a €4 billion extraordinary dividend.
The board is expected to assess Intesa’s revised offer and whether Lovaglio will propose countermeasures.
- Who
- MPS’s board, chief executive Luigi Lovaglio, Intesa Sanpaolo and a shareholder group holding more than one-third of MPS.
- What
- MPS called an extraordinary board meeting to discuss Intesa’s revised offer and the opposition to MPS’s alternative plan.
- When
- Monday afternoon; the article was published on October 11, 2026.
- Where
- Not stated.
- Why
- To assess the new scenario after Intesa changed its offer and a large shareholder group said it would reject MPS’s alternative plan.
MPS shareholder group opposing the plan
MPS management
Plan
MPS shareholder group opposing the plan
The group, holding more than one-third of MPS’s capital, intends to reject the alternative plan.
MPS management
Lovaglio developed an alternative plan involving offers for Banco BPM and Banca Generali and a €4 billion extraordinary dividend.
No direct quotes in the coverage so far.
Intesa Sanpaolo revised its offer, creating a new scenario for MPS.
A shareholder group holding more than one-third of MPS’s capital said it intended to reject Lovaglio’s alternative plan.
MPS is scheduled to hold an extraordinary board meeting to assess Intesa’s offer and possible countermeasures.
- Meeting
- Extraordinary MPS board meeting scheduled for Monday afternoon
- Shareholder group
- More than one-third of MPS’s capital
- Alternative plan
- Offers for Banco BPM and Banca Generali
- Proposed dividend
- €4 billion
- Chief executive
- Luigi Lovaglio
Sources
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