Banca Monte dei Paschi di Siena Acquired by Intesa Sanpaolo | Financial Services M&A Deal

Intesa Sanpaolo has proposed the acquisition of Banca Monte dei Paschi di Siena, a banking business in Italy, for $35.3 billion. Banca Monte dei Paschi di Siena is an Italian retail and commercial bank with a large branch footprint, making it a core target for financial services M&A. Intesa Sanpaolo acquisitions aim to expand scale in Italy’s banking sector and strengthen its position in Siena and across the country. The merger acquisition is an unsolicited strategic acquisition, countering a proposed merger of equals from Banco BPM, and values Monte Paschi at €10.09 per share with a mix of Intesa shares and cash. To address potential antitrust concerns, Intesa Sanpaolo agreed with Unipol Assicurazioni for a divestiture of the Monte Paschi brand, about half the branches, and key operating functions.