Banco BPM SpA Takeover Bid Update
The Italian stock market regulator has approved UniCredit’s offer to acquire Banco BPM SpA, an Italian bank, for 14 billion euros. This approval marks the final step before the bid can proceed.
UniCredit’s bid is not the only one in the running, as another bidder is also vying for control of the bank. The identity of this bidder has not been disclosed.
In a separate development, Credit Agricole has received clearance from the European Central Bank (ECB) to increase its stake in Banco BPM to 19.9%. This move comes as UniCredit prepares to launch its takeover bid for the bank.
The developments have contributed to market volatility, with shares in Banco BPM experiencing fluctuations.
Key Developments:
- UniCredit’s offer to acquire Banco BPM SpA approved by Italian stock market regulator
- Another bidder in the running for control of Banco BPM SpA
- Credit Agricole receives clearance from ECB to increase stake in Banco BPM to 19.9%
- UniCredit prepares to launch takeover bid for Banco BPM SpA