Reported about 3 hours ago
UniCredit SpA has made a €10 billion ($10.5 billion) all-share bid for Banco BPM as part of CEO Andrea Orcel’s strategy to enhance UniCredit's position in European banking. This move comes as UniCredit also contemplates acquiring Commerzbank, amidst a backdrop of increased banking consolidation in Italy. The offer values Banco BPM at a 0.5% premium to its recent share price, but the Italian government's reaction to the bid remains uncertain, given its goal to foster a competitive banking environment.
Source: YAHOO