Intesa May Have Secured More Than 80% Support for UBI Takeover
28 Julio 2020 - 12:24PM
Noticias Dow Jones
By Claudia Cervini
Intesa Sanpaolo SpA may have secured the support of more than
80% of Unione di Banche Italiane SpA shareholders for the takeover
of its smaller rival, UBI.
Shareholders representing around 19% of UBI's share capital, a
group called the CAR shareholder pact, backed the offer on
Tuesday.
On Monday, support for the deal had amounted to roughly 43.5%,
according to the Italian Stock Exchange.
Overall support for the offer of more than 80% would comfortably
pass the 66.7% threshold required to proceed smoothly with the
merger.
Italy's market regulator's Consob extended the offer deadline
until July 30, leaving more time for support to build up.
This story was translated in whole or in part from an
Italian-language version initially published by Milano Finanza-DJ,
a partner of Dow Jones & Co.
(END) Dow Jones Newswires
July 28, 2020 13:09 ET (17:09 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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