BPER Banca secures 58.49% stake in Banca Popolare di Sondrio
In February, BPER launched an all-share takeover bid for BPSO as dealmaking picked up in the Italian financial sector. Last week, the bank sweetened its offer by adding a cash component of 1 euro ($1.17) per BPSO share, valuing BPSO at 5.44 billion euros.
Last week, BPER chief Gianni Franco Papa said he was confident that the lender would go over a 50% take-up threshold in its ongoing takeover bid for Sondrio, in an interview with the MF newspaper.
Borsa Italiana data earlier in the day showed that take-up had reached 58.35% of Sondrio's share capital.
Papa called it a significant milestone that would strengthen BPER's position among Italy's top banking groups, with the emerging group aiming for a presence of more than 2,000 branches and 6 million customers, according to the statement.
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