0754 GMT - The hostile bid launched by Italian bank Monte dei Paschi for larger peer Mediobanca is likely to complete, Keefe, Bruyette & Woods says in a research note. The suitor improved the bid with a cash top-up and waived the threshold condition. "We think that shareholders should tender their shares since the offer implies upside to our price target of around 9% based on the share price," analysts Hugo Cruz and Ben Maher write. Almost 29% of Mediobanca's shareholders have committed their shares. Monte dei Paschi waived its 66.7% threshold condition and expects the offer to complete if shares with at least 35% of voting rights are tendered by the close of the acceptance period on Monday. Mediobanca shares are down 1.3% while Monte dei Paschi's fall 1.7%. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

September 02, 2025 03:54 ET (07:54 GMT)

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