MILAN (Reuters) – Monte dei Paschi di Siena has secured more than two thirds of Mediobanca’s capital, bourse data showed on Friday, crossing the ownership threshold needed to push through any extraordinary shareholder decisions. Monte dei Paschi’s hostile share-and-cash buyout offer concludes on Monday, the last day on which Mediobanca shareholders can tender their shares. […]
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Monte dei Paschi secures 70.5% of Mediobanca after penultimate day of tender offer
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MILAN (Reuters) – Monte dei Paschi di Siena has secured more than two thirds of Mediobanca’s capital, bourse data showed on Friday, crossing the ownership threshold needed to push through any extraordinary shareholder decisions.
Monte dei Paschi’s hostile share-and-cash buyout offer concludes on Monday, the last day on which Mediobanca shareholders can tender their shares.
The state-backed Tuscan bank has so far acquired shares equivalent to 70.5% of Mediobanca’s capital under its 16 billion euro ($19 billion) offer, Milan bourse data showed.
($1 = 0.8514 euros)
(Reporting by Valentina Za, editing by Gavin Jones)