Share Name Share Symbol Market Type
Ubi Banca BIT:UBI Italy Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 3.592 3.414 3.422 0.00 00:00:00

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

05/08/2020 7:08am

Dow Jones News

Ubi Banca (BIT:UBI)
Historical Stock Chart

From Jul 2020 to Jan 2021

Click Here for more Ubi Banca Charts.
   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; @pietrolombard10


(END) Dow Jones Newswires

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

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

1 Year Ubi Banca Chart

1 Year Ubi Banca Chart

1 Month Ubi Banca Chart

1 Month Ubi Banca Chart
ADVFN Advertorial
Your Recent History
Ubi Banca
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20210121 18:35:21