Monte dei Paschi secures 62.3% of Mediobanca shares

Core Insights - Banca Monte dei Paschi di Siena (BMPS) has successfully acquired 62.3% of Mediobanca's share capital following its takeover offer [1][4] - The acquisition is expected to create a new competitive force in the Italian banking sector, enhancing the range of products and services available to households, businesses, and communities [2] - BMPS improved its offer to include a cash payment of €0.90 ($1.05) per Mediobanca share and a share exchange, valuing Mediobanca shares at €16.334 each, which is an 11.4% premium over the January 2025 share price [3] Company Developments - BMPS plans to reopen the acceptance period for its takeover offer from September 16 to September 22, aiming to finalize payments for shares tendered during the initial period by September 15 [4] - The acquisition signifies the end of Mediobanca's status as Italy's largest independent publicly traded investment bank, potentially leading to the departure of its long-serving CEO, Alberto Nagel [4][5] - Although Nagel and the board are reportedly preparing to step down, no final decisions have been made, and the situation remains fluid [5]