Banco BPM: The MPS OPA is an acquisition, not a merger; no premium for shareholders
The board of directors: ‘This was not a pre-arranged transaction; we will be assessing the situation’
(Il Sole 24 Ore Radiocor) - The board of directors of Banco Bpm has ‘examined the communication’ from Mps regarding the launch of a public offer and ‘taken note’ of the offer from Siena. The transaction, according to a statement, 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 the letter dated 7 June 2026, as 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 on the matter in accordance with the terms and procedures laid down by the applicable legislation’.
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