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ISP Intesa Sanpaolo Spa

3.526
-0.017 (-0.48%)
30 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Intesa Sanpaolo Spa BIT:ISP Italy Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.017 -0.48% 3.526 3.525 3.54 3.5745 3.53 3.555 68,284,439 17:00:00

Intesa to Pay Up to EUR397.5 Million in UBI Squeeze Out

05/08/2020 7:08am

Dow Jones News


Intesa Sanpaolo (BIT:ISP)
Historical Stock Chart


From May 2019 to May 2024

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   By Pietro Lombardi 
 

Intesa Sanpaolo SpA said late Tuesday that it will pay up to 397.5 million euros ($469.2 million) to buy the remaining shares in Unione di Banche Italiane SpA that weren't already tendered by shareholders.

The Italian bank will pay the same stock-and-cash consideration offered in its takeover bid for the remaining 9.8% stake, that being 1.7 Intesa shares and EUR0.57 in cash for each UBI share or EUR3.539 in cash per UBI share, the latter only to shareholders who request it.

Intesa has secured strong support for its takeover bid for smaller rival UBI and it now controls around 91% of UBI's capital.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com; @pietrolombard10

 

(END) Dow Jones Newswires

August 05, 2020 01:53 ET (05:53 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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