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Bloomberg

Elliott's Italian Bank Is Said to Plan Offer for Banca Sistema

Banca CF+, an Italian financial services firm controlled by Elliott Management Corp., is set to launch an offer for Banca Sistema SpA, according to people with knowledge of the matter. The offer would consist of cash and shares of Banca Sistema's unit Kruso Kapital SpA, said the people, who asked not to be identified because the plan isn't public.