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A top Monte dei Paschi investor has backed Intesa's raised takeover offer, valued by Reuters at €35 billion and by the Financial Times at €34.5bn. The Wall Street Journal reports Intesa also warned on rival deals.
Intesa, one of Italy's largest banks, is pursuing a takeover of Monte dei Paschi, which Reuters says would redraw the Italian banking landscape. The outcome depends on Monte dei Paschi's shareholders, who are weighing the offer, which Intesa has raised.
A top Monte dei Paschi investor has backed Intesa's raised takeover offer, which Reuters puts at €35 billion and the Financial Times at €34.5bn. Reuters says the bid would redraw the Italian banking landscape, and the Wall Street Journal reports that Intesa also warned on rival deals.