BPER Banca, Italy’s fourth-largest lender, has gained effective control of Banca Popolare di Sondrio after 58.35% of the smaller bank’s shareholders tendered their stock in a public purchase-and-exchange offer that closed on 11 July, according to a notice from Borsa Italiana. The bid, launched in February as an all-share transaction, was sweetened last week with a €1 cash consideration for each Popolare di Sondrio share, helping the take-up exceed the 50% threshold set as a condition for completion. The campaign collected 263.6 million shares over the four-week offer period that began on 16 June. With the majority stake secured, BPER is positioned to integrate Popolare di Sondrio into its operations, furthering the consolidation trend in Italy’s banking sector. Settlement of the shares is expected in the coming days, after which BPER could move to delist the target or pursue full ownership, subject to regulatory approvals.
Bper chiude l’Opas su Popolare Sondrio: adesioni al 58,347% https://t.co/x01MEzKYEL https://t.co/vBmS6pcVZy
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BPER Banca's Offer To Buy Popolare Di Sondrio Reached 58.35% Ownership After Deadline 📈🏦