Intesa Sanpaolo raises MPS offer by €800 million, warns of withdrawal

October 4, 2026 at 02:05 AM1 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Intesa Sanpaolo increased its takeover offer for Monte dei Paschi di Siena by €800 million in cash, raising the per-share cash component to €1.25. The bank warned it may withdraw the offer if MPS shareholders approve management's alternative plan at an October 29 vote. The revised offer is valued at €34 billion.

Key Facts

Intesa Sanpaolo raised the cash component of its MPS offer to €1.25 per share from €1, adding €800 million in total cash.
The revised takeover offer is worth €34 billion in total.
MPS shareholders vote on October 29 on CEO Luigi Lovaglio's plan involving offers for Banca Generali and Banco BPM.
Intesa Sanpaolo said it will not waive the conditions allowing withdrawal if shareholders approve either MPS offer.

Revised Offer Terms

Intesa Sanpaolo increased the cash portion of its offer for Monte dei Paschi di Siena to €1.25 per share from €1, adding €800 million in total cash. The offer also includes 1.6 new Intesa Sanpaolo shares for each MPS share. The total value of the takeover, first announced in June, is €34 billion.

Shareholder Vote and Withdrawal Risk

MPS Chief Executive Luigi Lovaglio has scheduled a shareholder vote for October 29 on his alternative strategy. The plan involves two separate share-based takeover offers: one for asset manager Banca Generali and another for rival bank Banco BPM. Italian takeover rules require shareholder approval before Lovaglio can pursue the plan, which he presented in August. If MPS shareholders approve either of the two offers on October 29, Intesa Sanpaolo will be entitled to withdraw its offer under its terms. Intesa Sanpaolo said it does not plan to waive those terms and will maintain that they have not been met.