Monte Paschi May Lower Threshold for Mediobanca Bid: Repubblica
Banca Monte dei Paschi di Siena SpA is considering reducing the minimum acceptance rate in its bid to acquire Italian rival Mediobanca SpA, La Repubblica reported on Saturday, citing financial sources it didn't identify.
Monte Paschi could reduce the threshold to 51% or lower from the current rate of almost 67%, the newspaper said. Chief Executive Officer Luigi Lovaglio is willing to ease the condition to reflect a widening divergence in the share prices of both banks after Mediobanca's recent rally, according to the report.
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