Banca Monte dei Paschi di Siena (BMPS) has secured a significant majority stake in Mediobanca, with 86.3% of shares committed by investors during a recently concluded tender offer period.
The tender period reopened from 16 to 22 September, as per the Borsa Italiana filing.
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The commitment of shares followed an initial tender period that concluded on 8 September, leaving BMPS with a 62.3% holding.
The unsolicited bid by BMPS to take over Mediobanca was commenced in January.
The transaction is set to be finalised on 29 September 2025, when the payment for the shares will be made, coinciding with the transfer of share ownership to BMPS.
Following the acquisition, BMPS is said to reorganise the board of Mediobanca, which will be a clear indicator of the future direction of the combined entity, reported Bloomberg.
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By GlobalDataMedia reports suggest that the Mediobanca’s long-standing CEO Alberto Nagel stepped down recently.
In a previous strategic move, Mediobanca attempted to acquire Banca Generali from Generali to bolster its wealth management services.
Despite a substantial offer of €6.3bn, the bid was rejected by Mediobanca shareholders in the last month, amidst the takeover bid from BMPS.
Commenting on the blocked acquisition, Alberto Nagel has defined the failed bid as a missed opportunity for expansion, highlighting the potential benefits it could have brought to both Mediobanca and Italy’s financial sector.
