Banco BPM acknowledges unsolicited offer from Banca Monte dei Paschi di Siena; Board will make its own assessment of offer within required timeframe (post EU close 25-Aug) (€16.22, 0.00)
Italy will not sell its stake in Banca Monte dei Paschi di Siena before M&A battle is concluded -- Reuters (€11.67, 0.00)
Banco BPM to meet on 25-Aug to discuss Banca Monte dei Paschi di Siena ~€25.31B all-share offer -- IlSole24ore (€16.69, 0.00)
Miners, construction, autos and banks the best performers; healthcare, media and travel the main laggards:
StreetAccount Summary - European pre-market trading update
European macro headlines:
Follow up: Banca Monte dei Paschi di Siena launches €34B dual all-share offers: 1.567 shares per Banco BPM share, 6.958 per Banca Generali share; 10% premium for Banca Generali; €4B extraordinary distribution to shareholders (€16.75, 0.00)
Banca Monte dei Paschi di Siena launches all-share offers for Banco BPM, Banca Generali; €4B special dividend in cash and Generali shares -- IlSole24Ore (€16.75, 0.00)
Energy, construction and industrials the best performers; food/beverage, banks and real estate the big laggards:
Banca Monte dei Paschi di Siena CEO plans dual bids for Banco BPM, Banca Generali to counter Intesa Sanpaolo exchange offer; board meeting set for tomorrow morning (€16.91, +0.18)
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