Intesa Sanpaolo Revises Exchange Ratio for MPS Takeover Bid

11:31 AM EST, 11/03/2026 (MT Newswires) -- Intesa Sanpaolo (ISP.MI) adjusted the exchange ratio of its voluntary public tender and exchange offer for Banca Monte dei Paschi di Siena (BMPS.MI), or MPS, according to a Tuesday release. The Italian bank raised the ratio to 1.664 newly issued ordinary shares from 1.600 new shares for each MPS share tendered, to fully offset the effect of detaching its approved 2026 interim dividend of 0.22 euro per share. Under the terms announced in June, Intesa Sanpaolo will exchange 16 shares for every 10 MPS shares, plus 1 euro in cash for each share in the latter, for an implied per-share consideration of 10.09 euros and a total value of 30.6 billion euros.