Business · Companies · 17 hrs ago
Intesa Sanpaolo presses ahead with Monte dei Paschi takeover bid
Monte dei Paschi di Siena shareholders overwhelmingly rejected CEO Luigi Lovaglio’s defence plan, clearing the way for Intesa Sanpaolo’s takeover bid.
The plan included deals involving Banco BPM and Banca Generali, which investors voted against.
Intesa chief Carlo Messina says the bank will continue its offer but will not increase it further.
A previously triggered adjustment would raise Monte dei Paschi’s value from €30.6 billion to €31.4 billion.
Intesa says it expects approval from Italy’s competition authority by the end of November, but the offer also needs other regulatory clearances.
Messina says the proposal includes guarantees for existing jobs and youth hiring.
Meanwhile, Crédit Agricole raised its stake in Banco BPM to 29.6% and said combining the banks could make sense because of potential synergies.
Intesa Sanpaolo will continue its takeover offer for Monte dei Paschi di Siena without increasing it further, chief executive Carlo Messina said.
Messina said the result of Monte dei Paschi’s shareholder meeting showed strong support for proceeding with Intesa’s offer.
The meeting rejected CEO Luigi Lovaglio’s defensive plan, including proposals involving Banco BPM and Banca Generali.
Intesa’s offer is awaiting regulatory approvals, with the Italian competition authority’s decision expected by the end of November.
Messina said Intesa’s project guarantees jobs and the hiring of young people.
- Who
- Intesa Sanpaolo, led by chief executive Carlo Messina, is pursuing the offer for Monte dei Paschi di Siena.
- What
- Intesa will proceed with its takeover offer and will not increase it further.
- When
- Messina said this on October 30, 2026, after Monte dei Paschi’s shareholder meeting.
- Where
- The offer concerns Monte dei Paschi di Siena, an Italian bank. Messina spoke in Rome.
- Why
- Monte dei Paschi shareholders rejected CEO Luigi Lovaglio’s defensive plan, which Messina said showed support for proceeding with Intesa’s offer.
This story does not have two clearly opposing sides.
Monte dei Paschi shareholders rejected CEO Luigi Lovaglio’s defensive plan.
Carlo Messina said Intesa would proceed with its offer and would not increase it further.
Messina said he expected the competition authority’s approval process to be completed.
- Intesa offer
- Monte dei Paschi di Siena
- Offer increase
- None planned, Messina said
- Offer adjustment
- 25 cents per share, raising Monte dei Paschi’s value from €30.6 billion to €31.4 billion
- Shareholder vote
- More than 90% rejected Lovaglio’s plan, according to Messina
- Expected competition decision
- By the end of November, according to Messina
5 sources
Mps, Messina (Intesa): «Non aumenteremo l’offerta per Siena». E Crédit Agricole sale in Banco Bpm
Messina, nessun incremento dell'offerta su Mps
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Italien: Aktionäre von Bank Monte dei Paschi stoppen Abwehrplan gegen Intesa-Übernahme
Monte dei Paschi investors reject CEO’s plan to fend off Intesa’s €35bn takeover
What people are saying
Assolutamente no
è stato chiaro e con proporzioni significative
ragionevolmente entro la fine di novembre che si completi il percorso