Monte dei Paschi should try the ‘just say maybe’ bid defence

Monte dei Paschi’s attempt to derail Intesa Sanpaolo’s takeover bid by acquiring Banca Popolare di Milano and Banca Generali has failed due to lack of shareholder support, with Crédit Agricole reportedly uninterested and proxy advisers opposing the plan. Nearly 30% of shareholders refused to back the defence, and internal divisions persist, including the sacking and reinstatement of CEO Luigi Lovaglio and lack of board unity. Despite these setbacks, MPS should not accept a poor offer.

Intesa’s current bid values the bank at €3.8bn in cash plus roughly a fifth of a €130bn entity after cost savings, offering MPS about a 20% improvement over its starting position. However, the bank could argue for a better deal, especially given its 13% stake in insurer Generali and rising merger activity in the sector. While mounting a credible alternative is difficult, Lovaglio can ensure MPS’s assets go to the highest bidder by accepting that independence is unlikely.

The share price remains slightly above Intesa’s offer, indicating investor hope for a higher valuation. Though the era of independence may end, it need not be a bad outcome.

Monte dei Paschi attempt to derail Intesa Sanpaolo's takeover bid by acquiring Banca Popolare di Milano and Banca Generali has failed due to lack of shareholder support, with Crédit Agricole reportedly uninterested and proxy advisers opposing the plan. Nearly 30% of shareholders refused to back the defence, and internal divisions persist, including the sacking and reinstatement of CEO Luigi Lovaglio and lack of board unity. Despite these setbacks, MPS should not accept a poor offer.

Intesa’s current bid values the bank at €3.8bn in cash plus roughly a fifth of a €130bn entity after cost savings, offering MPS about a 20% improvement over its starting position. However, the bank could argue for a better deal, especially given its 13% stake in insurer Generali and rising merger activity in the sector. While mounting a credible alternative is difficult, Lovaglio can ensure MPS’s assets go to the highest bidder by accepting that independence is unlikely.

The share price remains slightly above Intesa’s offer, indicating investor hope for a higher valuation. Though the era of independence may end, it need not be a bad outcome.

Monte dei Paschi attempt to derail Intesa Sanpaolo's takeover bid by acquiring Banca Popolare di Milano and Banca Generali has failed due to lack of shareholder support, with Crédit Agricole reportedly uninterested and proxy advisers opposing the plan. Nearly 30% of shareholders refused to back the defence, and internal divisions persist, including the sacking and reinstatement of CEO Luigi Lovaglio and lack of board unity. Despite these setbacks, MPS should not accept a poor offer.

Intesa’s current bid values the bank at €3.8bn in cash plus roughly a fifth of a €130bn entity after cost savings, offering MPS about a 20% improvement over its starting position. However, the bank could argue for a better deal, especially given its 13% stake in insurer Generali and rising merger activity in the sector. While mounting a credible alternative is difficult, Lovaglio can ensure MPS’s assets go to the highest bidder by accepting that independence is unlikely.

The share price remains slightly above Intesa’s offer, indicating investor hope for a higher valuation. Though the era of independence may end, it need not be a bad outcome.

Monte dei Paschi attempt to derail Intesa Sanpaolo's takeover bid by acquiring Banca Popolare di Milano and Banca Generali has failed due to lack of shareholder support, with Crédit Agricole reportedly uninterested and proxy advisers opposing the plan. Nearly 30% of shareholders refused to back the defence, and internal divisions persist, including the sacking and reinstatement of CEO Luigi Lovaglio and lack of board unity. Despite these setbacks, MPS should not accept a poor offer.

Intesa’s current bid values the bank at €3.8bn in cash plus roughly a fifth of a €130bn entity after cost savings, offering MPS about a 20% improvement over its starting position. However, the bank could argue for a better deal, especially given its 13% stake in insurer Generali and rising merger activity in the sector. While mounting a credible alternative is difficult, Lovaglio can ensure MPS’s assets go to the highest bidder by accepting that independence is unlikely.

The share price remains slightly above Intesa’s offer, indicating investor hope for a higher valuation. Though the era of independence may end, it need not be a bad outcome.

Monte dei Paschi intentó frustrar la Oferta de Intesa Sanpaolo adquiriendo Banca Popolare di Milano y Banca Generali, pero falló debido a la falta de apoyo de los accionistas, con Crédit Agricole reportedly uninterested and proxy advisers opposing the plan. Nearly 30% of shareholders refused to back the defence, and internal divisions persist, including the sacking and reinstatement of CEO Luigi Lovaglio and lack of board unity. Despite these setbacks, MPS should not accept a poor offer.

Intesa’s current bid values the bank at €3.8bn in cash plus roughly a fifth of a €130bn entity after cost savings, offering MPS about a 20% improvement over its starting position. However, the bank could argue for a better deal, especially given its 13% stake in insurer Generali and rising merger activity in the sector. While mounting a credible alternative is difficult, Lovaglio can ensure MPS’s assets go to the highest bidder by accepting that independence is unlikely.

The share price remains slightly above Intesa’s offer, indicating investor hope for a higher valuation. Though the era of independence may end, it need not be a bad outcome.

L'essai de Monte dei Paschi de dérailer l'Offer dIntesa Sanpaolo en acquérant Banca Popolare di Milano et Banca Generali a échoué en raison du manque de soutien des actionnaires, avec Crédit Agricole reportedly uninterested and proxy advisers opposing the plan. Nearly 30% of shareholders refused to back the defence, and internal divisions persist, including the sacking and reinstatement of CEO Luigi Lovaglio and lack of board unity. Despite these setbacks, MPS should not accept a poor offer.

Intesa’s current bid values the bank at €3.8bn in cash plus roughly a fifth of a €130bn entity after cost savings, offering MPS about a 20% improvement over its starting position. However, the bank could argue for a better deal, especially given its 13% stake in insurer Generali and rising merger activity in the sector. While mounting a credible alternative is difficult, Lovaglio can ensure MPS’s assets go to the highest bidder by accepting that independence is unlikely.

The share price remains slightly above Intesa’s offer, indicating investor hope for a higher valuation. Though the era of independence may end, it need not be a bad outcome.

मonte dei Paschi ने Intesa Sanpaolo के अधिग्रहण प्रस्ताव को विफल करने के लिए Banca Popolare di Milano और Banca Generali अधिग्रहण करने की कोशिश की, लेकिन शेयरधारकों के समर्थन के कमी के कारण विफल। Crédit Agricole reportedly uninterested and proxy advisers opposing the plan. Nearly 30% of shareholders refused to back the defence, and internal divisions persist, including the sacking and reinstatement of CEO Luigi Lovaglio and lack of board unity. Despite these setbacks, MPS should not accept a poor offer.

Intesa’s current bid values the bank at €3.8bn in cash plus roughly a fifth of a €130bn entity after cost savings, offering MPS about a 20% improvement over its starting position. However, the bank could argue for a better deal, especially given its 13% stake in insurer Generali and rising merger activity in the sector. While mounting a credible alternative is difficult, Lovaglio can ensure MPS’s assets go to the highest bidder by accepting that independence is unlikely.

The share price remains slightly above Intesa’s offer, indicating investor hope for a higher valuation. Though the era of independence may end, it need not be a bad outcome.

Monte dei Paschi attempt to derail Intesa Sanpaolo's takeover bid by acquiring Banca Popolare di Milano and Banca Generali has failed due to lack of shareholder support, with Crédit Agricole reportedly uninterested and proxy advisers opposing the plan. Nearly 30% of shareholders refused to back the defence, and internal divisions persist, including the sacking and reinstatement of CEO Luigi Lovaglio and lack of board unity. Despite these setbacks, MPS should not accept a poor offer.

Intesa’s current bid values the bank at €3.8bn in cash plus roughly a fifth of a €130bn entity after cost savings, offering MPS about a 20% improvement over its starting position. However, the bank could argue for a better deal, especially given its 13% stake in insurer Generali and rising merger activity in the sector. While mounting a credible alternative is difficult, Lovaglio can ensure MPS’s assets go to the highest bidder by accepting that independence is unlikely.

The share price remains slightly above Intesa’s offer, indicating investor hope for a higher valuation. Though the era of independence may end, it need not be a bad outcome.

Monte dei PaschiはIntesa Sanpaoloの取引き込み込みを阻むためにBanca Popolare di MilanoとBanca Generaliを買う試みみをしたが、株主の支持不足により失敗。Crédit Agricole reportedly uninterested and proxy advisers opposing the plan. Nearly 30% of shareholders refused to back the defence, and internal divisions persist, including the sacking and reinstatement of CEO Luigi Lovaglio and lack of board unity. Despite these setbacks, MPS should not accept a poor offer.

Intesa’s current bid values the bank at €3.8bn in cash plus roughly a fifth of a €130bn entity after cost savings, offering MPS about a 20% improvement over its starting position. However, the bank could argue for a better deal, especially given its 13% stake in insurer Generali and rising merger activity in the sector. While mounting a credible alternative is difficult, Lovaglio can ensure MPS’s assets go to the highest bidder by accepting that independence is unlikely.

The share price remains slightly above Intesa’s offer, indicating investor hope for a higher valuation. Though the era of independence may end, it need not be a bad outcome.

Monte dei Paschi attempt to derail Intesa Sanpaolo's takeover bid by acquiring Banca Popolare di Milano and Banca Generali has failed due to lack of shareholder support, with Crédit Agricole reportedly uninterested and proxy advisers opposing the plan. Nearly 30% of shareholders refused to back the defence, and internal divisions persist, including the sacking and reinstatement of CEO Luigi Lovaglio and lack of board unity. Despite these setbacks, MPS should not accept a poor offer.

Intesa’s current bid values the bank at €3.8bn in cash plus roughly a fifth of a €130bn entity after cost savings, offering MPS about a 20% improvement over its starting position. However, the bank could argue for a better deal, especially given its 13% stake in insurer Generali and rising merger activity in the sector. While mounting a credible alternative is difficult, Lovaglio can ensure MPS’s assets go to the highest bidder by accepting that independence is unlikely.

The share price remains slightly above Intesa’s offer, indicating investor hope for a higher valuation. Though the era of independence may end, it need not be a bad outcome.

Monte dei Paschi attempt to derail Intesa Sanpaolo's takeover bid by acquiring Banca Popolare di Milano and Banca Generali has failed due to lack of shareholder support, with Crédit Agricole reportedly uninterested and proxy advisers opposing the plan. Nearly 30% of shareholders refused to back the defence, and internal divisions persist, including the sacking and reinstatement of CEO Luigi Lovaglio and lack of board unity. Despite these setbacks, MPS should not accept a poor offer.

Intesa’s current bid values the bank at €3.8bn in cash plus roughly a fifth of a €130bn entity after cost savings, offering MPS about a 20% improvement over its starting position. However, the bank could argue for a better deal, especially given its 13% stake in insurer Generali and rising merger activity in the sector. While mounting a credible alternative is difficult, Lovaglio can ensure MPS’s assets go to the highest bidder by accepting that independence is unlikely.

The share price remains slightly above Intesa’s offer, indicating investor hope for a higher valuation. Though the era of independence may end, it need not be a bad outcome.

Monte dei Paschi试图通过收购Banca Popolare di Milano和Banca Generali来阻止Intesa Sanpaolo的要约，但由于股东支持不足而失败。Crédit Agricole reportedly uninterested and proxy advisers opposing the plan. Nearly 30% of shareholders refused to back the defence, and internal divisions persist, including the sacking and reinstatement of CEO Luigi Lovaglio and lack of board unity. Despite these setbacks, MPS should not accept a poor offer.

Intesa’s current bid values the bank at €3.8bn in cash plus roughly a fifth of a €130bn entity after cost savings, offering MPS about a 20% improvement over its starting position. However, the bank could argue for a better deal, especially given its 13% stake in insurer Generali and rising merger activity in the sector. While mounting a credible alternative is difficult, Lovaglio can ensure MPS’s assets go to the highest bidder by accepting that independence is unlikely.

The share price remains slightly above Intesa’s offer, indicating investor hope for a higher valuation. Though the era of independence may end, it need not be a bad outcome.