** Shares in Banco BPM BAMI.MI jump around 8% to their highest since January 2016 after it said it would launch a buyout offer for asset manager Anima Holding ANIM.MI

** Anima Holding jumps as much as 13%, up around 10% by 0840 GMT

** "The deal makes sense in our view in the context of increasing revenue diversification with a contained CET1 hit," Jefferies says in a note

** J.P.Morgan notes that while synergies are limited at this stage, Anima would provide Banco BPM a strong asset management franchise and rebalance the revenue mix towards higher growth and more capital business

** Banco BPM shares are among the top performers on STOXX 600 .STOXX index

** If gains hold, Anima Holding's stock will see its best day since April 2020

(Reporting by Romolo Tosiani, Andrea Mandalà)

((Romolo.Tosiani@tr.com))