Banca Generali is studying the offer from Monte Paschi
Banca Generali has said it is evaluating an unsolicited bid from Banca Monte dei Paschi di Siena (MPS), part of Monte Paschi chief executive Luigi Lovaglio's attempt to create a giant Italian bank with a stock market capitalisation of around €70bn.
Banca Generali is evaluating an unsolicited offer from Banca Monte dei Paschi di Siena (MPS). MPS, led by CEO Luigi Lovaglio, aims to create a giant Italian bank with a market capitalization of around 70 billion euros. The offer, worth 8.7 billion euros, is part of MPS's effort to thwart a potential acquisition by rival Intesa Sanpaolo, which made an offer over two months ago. Banca Generali will express its opinion on the offer within the legally prescribed timeframe.
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