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Italy's BPER Banca Bumps Popolare Di Sondrio Offer to $6.4 Billion

Italy's BPER Banca Bumps Popolare Di Sondrio Offer to $6.4 Billion

Italian lender BPER Banca BPE -1.96%decrease; red down pointing triangle topped up its offer for Banca Popolare di Sondrio BPSO 0.68%increase; green up pointing triangle by throwing in a cash component to value the smaller rival at around 5.47 billion euros ($6.43 billion).
In February, BPER Banca rushed to join the wave of consolidation sweeping through Italy's crowded banking sector in a bid to gain scale and defend its market position. The offer it put forward for BP Sondrio valued it at roughly 4.3 billion euros based on share prices at the time.
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