UniCredit proposes a €10 billion acquisition of Banco BPM to bolster its presence in Italy and Europe.

Italian bank UniCredit has proposed to acquire Banco BPM, its domestic rival, for approximately €10 billion ($10.5 billion) in an all-stock deal. The offer is valued at €6.657 per share and aims to strengthen UniCredit's position in Italy and create a stronger pan-European banking group. This move comes separately from UniCredit's ongoing investment in German lender Commerzbank. UniCredit expects the acquisition to enhance earnings per share in the high single-digit range within two years.

November 25, 2024
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