EU FINANCIALS: BPER launches Sondrio takeover
Feb-07 07:58
• Italy M&A news continues with BPER offering a €4.3bn all share takeover bid for Sondrio, at a 6.6% premium to Sondrio's Wednesday closing price.
• BPER and Sondrio are 20% owned by Unipol - which may make securing shareholder approval simpler
The combined group would have c€194bn of total assets, which is just a shade less than BPM. For context. The total assets of Intesa and UniCredit are €950bn and €804bn respectively
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STIR: SFRZ6/U7 Lifted
Jan-08 07:57
SFRZ6/U7 paper paid 6.5 on ~6.3K, initially taken bid over with a further ~3.2K trading since. Market left 6.0/6.5 last.
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Jan-08 07:56
Gilt Opening calls, 91.43/91.45.
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Jan-08 07:54
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