Banco BPM: Board meeting on the MPS public offer concludes; unanimous support for the decisions
A statement is awaited to clarify the company’s position
(Il Sole 24 Ore Radiocor) - The Banco BPM board meeting, convened to begin examining the public exchange offer launched by MPS, concluded after less than two hours. It was a relatively short meeting “because we were all in agreement”, commented director Domenico Siniscalco as he left the headquarters in Piazza Meda.
When reporters asked him whether the board’s decisions had therefore been taken unanimously, Siniscalco replied: ‘Yes’. The former minister, who was elected to the Banco BPM board of directors after being nominated by shareholder Credit Agricole, declined to provide any further details: “The company speaks through press releases,” was all he would say.
The board of directors of Banco Bpm has ‘examined the announcement’ by Mps regarding the launch of a public offer and ‘taken note’ of Siena’s offer. According to a statement, the transaction was “initiated by MPS without having been previously agreed with Banco BPM or requested by the latter”. The board at Piazza Meda emphasises that the offer “by its very nature represents a transaction that is structurally different from that proposed by Banco Bpm to MPS in its letter of 7 June 2026, in that it constitutes an acquisition, not a merger between the two banks”, and ‘does not offer a premium to Banco BPM shareholders’. The board of directors will now ‘carry out the assessments within its remit regarding the offer and will announce its decisions in this regard in accordance with the terms and procedures laid down by the applicable legislation’.
