Reported about 7 hours ago
Banco BPM's board is convening to discuss UniCredit's unexpected $11 billion takeover bid, which has surprised investors and complicated Italy's efforts to consolidate its banking sector. The all-stock offer values Banco BPM at approximately €6.657 per share, and a board member has already labeled the approach as hostile. The situation has raised questions about the future of Italian banking amid ongoing governmental plans to create a major financial entity.
Source: YAHOO