Banca Monte dei Paschi di Siena Raises Concerns Over Sweetened Takeover Offer from Intesa Sanpaolo

11:48 PM EDT, 10/12/2026 (MT Newswires) -- Banca Monte dei Paschi di Siena (BMPS.MI) flagged concerns over the increased takeover proposal from Intesa Sanpaolo (ISP.MI), citing preliminary observations of the offer. The targeted Italian lender said Monday that most of the synergies from the offer are dependent on the break-up of its group across separate ownerships and industrial parameters. It also highlighted that the final structure of the proposal remains subject to additional steps, decisions and approvals. Intesa Sanpaolo increased its offer on Oct. 3 to 1.25 euros in cash plus 1.6 newly issued shares per share, implying a valuation of 10.341 euros per share, or 31.4 billion euros. Amid the increase, MPS said the competing offer from Mediobanca Banca di Credito Finanziario (MB.MI) still presents the possibility of improving its identity and integrity. MPS shareholders will consider on Oct. 29 its separate proposals for Banco BPM (BAMI.MI) and Banca Generali (BGN.MI). Subject to the approval of at least three of the five agenda at the meeting, the Intesa Sanpaolo offer will be declared ineffective, MPS added.