Germany has formally rejected UniCredit’s takeover offer for Commerzbank, arguing that the bid undervalues the German lender and fails to provide an adequate premium for shareholders. The German government, which still owns a 12% stake in Commerzbank following the 2008 financial crisis, reaffirmed its opposition to the proposed merger and expressed concerns over
Italy’s largest lender, Intesa Sanpaolo, has launched an unsolicited €30.6 billion ($35 billion) cash-and-share offer to acquire rival bank Monte dei Paschi di Siena (MPS), marking a new phase of consolidation in the country’s banking sector. The proposed deal offers MPS shareholders a 12.5% premium over the bank’s closing share price on Friday. To address […]

