We use cookies to improve your experience. By using BondbloX, you agree to our use of cookies.
Bond Market News
Banca Monte Sees Intesa’s Bid as Undervalued
July 17, 2026
– Vandit P
Banca Monte dei Paschi di Siena (BMPS) said that Intesa Sanpaolo’s unsolicited €30.6bn ($34.9bn) takeover bid was undervalued. It cited concerns over both the offered premium and projected synergies, as well as regulatory hurdles. Following a board meeting, BMPS said it also deepen its review of a separate “merger of equals” proposal received last month from Banco BPM, stating this proposal deserves a comprehensive and rigorous assessment. Intesa unveiled its cash-and-share bid last month, offering 1.6 Intesa shares plus €1 in cash per BMPS share tendered, representing a 12.5% premium to BMPS’s closing price before the announcement. BMPS noted this premium falls short of the roughly 30% average seen in comparable voluntary exchange offers in the Italian banking sector.
Bonds of both Intesa and BMPS traded stable. For instance, Intesa’s EUR 5.5% Perp was at 100.2, yielding 5.5%. BMPS’s EUR 3.25% 2032s were at 98.8, yielding 3.5%
For more details, click here
Go back to Latest bond Market News
Related Posts:
Our Awards
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.