UniCredit offers to buy rival Italian lender Banco BPM for $10.5 billion

Published On Nov 25, 2024, 1:22 AM

UniCredit has proposed to acquire Banco BPM for approximately $10.5 billion, offering €6.657 per share, which slightly exceeds Banco BPM's recent closing price. This acquisition aims to bolster UniCredit's position as a leading banking group in Europe and is distinct from its ongoing interest in purchasing Commerzbank.