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

11/25/2024

Less than a minute

2024.11.25 01:07

(Reuters) -Italian lender UniCredit said on Monday it had offered to buy rival Banco BPM 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.

© Reuters. FILE PHOTO: Unicredit bank logo is seen on a banner downtown Milan, Italy, May 23, 2016. REUTERS/Stefano Rellandini/File Photo

BPM did not immediately respond to a Reuters request for comment.

($1 = 0.9542 euros)

11/25/2024

Less than a minute

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