Business
Assicurazioni Generali to Consider $10.2 Billion Banca Generali Bid, Says Assicurazioni Generali
Italy’s Assicurazioni Generali G 0.50%increase; up pointing triangle said it is willing to consider a $10.2 billion takeover offer for private bank Banca Generali BGN 0.53%increase; up pointing triangle from rival Monte dei Paschi di Siena, the latest attempt at consolidation in the country’s banking sector.
MPS, considered Europe’s oldest lender still in operation, last week launched a joint bid for Banca Generali and Banco BPM, offering 6.958 of its own shares for each Banca Generali share to value the bank at 8.72 billion euros ($10.16 billion). It said at the time the bid represented a 10% premium to Banca Generali’s share price.
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