Intesa Sanpaolo unveiled a €30.66 billion (≈$35.32 billion) offer for Banca Monte dei Paschi di Siena, proposing 16 Intesa shares plus €1 cash for each Monte dei Paschi share. The price of €10.091 per share translates to a 13% premium over the bank's Friday close, targeting the world’s oldest operating lender.

The proposal arrives hours after Banco BPM announced a rival merger‑of‑equals approach, aiming to fuse the two institutions into a group valued above €50 billion once synergies are accounted for. Both overtures pit Italy’s two largest banks against each other for control of Monte dei Paschi, intensifying a broader consolidation wave in the country’s banking sector.

Investors will gauge whether Intesa’s share‑swap structure or BPM’s equal‑merger model delivers greater value. The outcome could reshape market share, influence pricing power, and set a benchmark for future Italian bank tie‑ups, leaving shareholders to decide which bid best preserves Monte dei Paschi’s legacy while unlocking growth.