Latest news with #BancaGenerali
Reuters
4 days ago
- Business
- Reuters
U.S. funds Calvert, NYC Comptroller to back Mediobanca's bid for Banca Generali
MILAN, June 5 (Reuters) - Calvert and New York City Comptroller Brad Lander will vote in favour of Italian merchant bank Mediobanca's bid for private bank Banca Generali ( opens new tab on June 16, the two U.S. funds said on their respective websites on Thursday. Mediobanca in April proposed buying Due to the MPS bid and Italian corporate takeover rules, Mediobanca must first seek shareholders' approval to pursue the Banca Generali deal and has called a meeting for June 16 to vote on the plan. Italian tycoon Francesco Gaetano Caltagirone, a leading investor in Mediobanca, has expressed a negative view on the Banca Generali bid and is seeking a a delay of the shareholder vote saying key details are still unclear. The two funds did not disclose their stakes in Mediobanca.
Reuters
5 days ago
- Business
- Reuters
Glass Lewis recommends Mediobanca investors to vote in favour of Banca Generali bid
MILAN, June 5 (Reuters) - Proxy adviser Glass Lewis said it had recommended Mediobanca's ( opens new tab investors vote in favour of the merchant bank's bid for Banca Generali ( opens new tab at a general meeting on June 16. "The proposed offer represents a substantial opportunity for Mediobanca shareholders", it said in a report published on Thursday. Mediobanca proposed buying Banca Generali in April as it seeks to stave off a buyout bid from Monte dei Paschi di Siena (MPS) ( opens new tab. Due to the MPS bid and Italian corporate takeover rules, Mediobanca must first seek shareholders' approval to pursue the Banca Generali deal and has called a meeting for June 16 to vote on the plan.
Reuters
6 days ago
- Business
- Reuters
Italian Mediobanca investors holding 11.9% stake back Banca Generali bid
MILAN, June 4 (Reuters) - A group of Italian investors in the Italian merchant bank Mediobanca ( opens new tab, holding a total stake of 11.9%, broadly backed the proposed bid for private bank Banca Generali ( opens new tab in a meeting on Wednesday, two of the shareholders said. Mediobanca proposed buying Banca Generali in April as it seeks to stave off a buyout bid from Monte dei Paschi di Siena (MPS) ( opens new tab. Due to the MPS bid and Italian corporate takeover rules, Mediobanca must first seek shareholders' approval to pursue the Banca Generali deal and has called a meeting for June 16 to vote on the plan. The group of Italian investors, which includes the asset manager Banca Mediolanum ( opens new tab, signed a consultation agreement in 2018 to share observations on the main topics regarding Mediobanca, with no restrictions on voting at the ordinary and extraordinary general shareholders' meetings.
Yahoo
6 days ago
- Business
- Yahoo
Mediobanca investor Caltagirone urges bank to delay shareholder vote on Banca Generali
MILAN (Reuters) -Francesco Gaetano Caltagirone, one of the main investors in Mediobanca, is urging its board to delay a shareholder vote on the proposed acquisition of private bank Banca Generali , his holding company VM 2006 said on Tuesday. Mediobanca has proposed buying Banca Generali in an effort to thwart a takeover offer by Monte dei Paschi di Siena (MPS), a bailed-out lender in which Caltagirone is also a shareholder. The Italian tycoon repeatedly expressed a negative view on the Mediobanca's proposed acquisition of Banca Generali, saying that he did not see value in the bid. Due to the MPS bid, Mediobanca must first seek shareholder approval to pursue the deal and has called a meeting on June 16 to vote on the plan. The Italian merchant bank is planning to finance the deal by tendering its 13% stake in Italy's top insurer Generali, which is the controlling shareholder in Banca Generali. The Banca Generali deal includes the signing of an industrial partnership between Mediobanca and Generali. Caltagirone asked Mediobanca's board to postpone the assembly until the partnership agreements, the terms of which are not yet known, are finalised as they are "an essential part of the offer", VM 2006 said in a statement. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
6 days ago
- Business
- Reuters
Mediobanca investor Caltagirone urges bank to delay shareholder vote on Banca Generali
MILANO, June 3 (Reuters) - Francesco Gaetano Caltagirone, one of the biggest investors in Mediobanca ( opens new tab, has called on the Italian bank's board to delay a shareholder vote scheduled for June 16 on the proposed acquisition of private bank Banca Generali ( opens new tab. Mediobanca has proposed buying Banca Generali in an effort to thwart a takeover offer by Monte dei Paschi di Siena (MPS) ( opens new tab, a bailed-out lender in which Caltagirone is also a shareholder. Due to the MPS bid, Mediobanca must first seek shareholder approval to pursue the deal and has called a meeting on June 16 to vote on the project.
