1526 GMT - Mediobanca's bid for Banca Generali is supported by a sound rationale, proxy advisory firm Institutional Shareholder Services says in a report. Given that Mediobanca is itself under offer from Monte dei Paschi, the Italian bank is subject to the passivity rule. Mediobanca needs shareholder approval for the proposed acquisition of the private banking arm of Assicurazioni Generali, which it intends to fund through the reallocation of the stake it owns in the Italian insurer. ISS recommends that Mediobanca shareholders vote in favor of the deal at its meeting on June 16, though it cautions that the full information on the exchange offer is yet to be published and that significant uncertainty exists over its successful close. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
May 28, 2025 11:26 ET (15:26 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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