Italy’s UniCredit offers to buy Banco BPM for $10.57 bln

Spread the love
Unicredit bank logo is seen on a banner in downtown Milan, Italy, May 23, 2016. REUTERS
Nov 25 (Reuters) – Italian lender UniCredit (CRDI.MI), said on Monday it had offered to buy rival Banco BPM (BAMI.MI) in a stock deal valued at about 10.09 billion euros ($10.57 billion).
UniCredit said it would offer 0.175 of its common stock for each BPM share. The exchange ratio implies an offer value of 6.67 euros per share, a premium of about 0.4% to BPM’s last close on Friday.
The total deal value is based on Reuters calculations.
BPM did not immediately respond to a Reuters request for comment.
($1 = 0.9542 euros)

Reporting by Shubham Kalia in Bengaluru; Editing by Abinaya Vijayaraghavan

Share this post :

Facebook
Twitter
LinkedIn
Pinterest

Leave a Reply

Your email address will not be published. Required fields are marked *

Create a new perspective on life

Your Ads Here (365 x 270 area)
Latest News
Categories

Subscribe our newsletter

Purus ut praesent facilisi dictumst sollicitudin cubilia ridiculus.