Intesa Sanpaolo Conditionally Sweetens MPS Takeover Bid

02:04 AM EDT, 10/04/2026 (MT Newswires) -- Intesa Sanpaolo (ISP.MI) proposed to raise the cash component of its buyout bid for Italian banking peer Banca Monte dei Paschi di Siena (BMPS.MI), or MPS, if shareholders of the target company reject MPS' counter plan, according to an Oct. 3 release. Intesa is prepared to offer another 0.25 euro in cash for every MPS share tendered, provided MPS shareholders vote against Chief Executive Officer Luigi Lovaglio's two parallel voluntary public exchange offers for Banco BPM (BAMI.MI) and Banca Generali (BGN.MI) at an Oct. 29 meeting. The proposal would sweeten the total offer to 1.25 euros in cash plus 1.6 newly issued Intesa shares per MPS share. Intesa will upwardly revise the exchange ratio if it distributes an interim dividend for 2026. On the contrary, if MPS shareholders back either of the proposed bids for Banco BPM and Banca Generali, Intesa's offer for MPS will fall through, Intesa added.