(Bloomberg) — Mediobanca SpA rejected once again a takeover by Banca Monte dei Paschi di Siena SpA saying the offer is too low and the deal is lacking rationale, ahead of the start of the offer period Monday. The bank said a combination between the two lenders would be “unnatural, and highly value-destructive,” according to a statement issued after a board meeting Friday. The board of directors also reiterated that Monte Paschi offer is “not fair”. The deal is part of a series of competing bids that are reshaping the finance landscape in Italy. Monte Paschi, which was bailed out and nationalized before returning to private ownership, stunned investors earlier this year with an all-share offer to acquire the larger rival. Mediobanca Chief Executive Officer Alberto Nagel already dismissed a potential deal as lacking industrial and financial rationale and destructive. Monte Paschi CEO Luigi Lovaglio is instead of the opinion that his bank would benefit from the combining efforts in asset gathering, private banking, investment banking and insurance. Mediobanca said Friday that a merger would results in about €460 million of lost synergies. One of Mediobanca’s main objections relates to the value. Monte Paschi is offering 25.33 new shares for every 10 in Mediobanca, valuing the target at around €14.6 billion ($17 billion), below Mediobanca’s market capitalization of around €15.2 billion. The valuation is suggesting investors expect the bid to be raised. The offer carried a premium of about 5% when it was first unveiled. Still, the deal has political backing as the government in Rome, which still owns a stake in Monte Paschi, would like to build a third large banking group around the Tuscan lender, able to compete with Intesa Sanpaolo SpA and UniCredit SpA. Monte Paschi has said it wants to get at least two thirds of Mediobanca’s shares, though it may still decide to waive that condition and accept a commitment of at least 35%. Both lenders are part of a complicated web of dealmaking in Italian finance, where cross-holdings, alliances and sometimes conflicting interests mean that developments in one deal have repercussions for others. Monte Paschi’s plan is also backed by the billionaire Del Vecchio family and construction tycoon Francesco Gaetano Caltagirone, the two largest investors in Mediobanca. The presence of the same shareholders – namely Del Vecchio’ Delfin and Caltagirone – in Paschi, Mediobanca and Assicurazioni Generali SpA “constitutes a potential misalignment of the interests of these shareholders with those of the rest of the shareholding structure,” Mediobanca said Friday. More stories like this are available on bloomberg.com ©2025 Bloomberg L.P. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
Mediobanca Reaffirms Its Resistance to Monte Paschi Acquisition Offer
