Arguments Put Forward by Mediobanca to Reject MPS Offer Reflect Market View -- Market Talk

Dow Jones

Jan 28, 2025

1436 GMT - The arguments Mediobanca's outlined when it rejected the surprise takeover offer from peer Banca Monte dei Paschi coincide with AlphaValue's first comments on the deal, the broker says in a research note. The Italian lender sees the deal as value destructive and highlighted the lack of industrial and financial rationale. It also noted the absence of appreciable synergies and potential client and staff losses. "At the time of writing, since BMPS' announcement, Mediobanca's share price has increased by more than 4%, whereas that of BMPS has fallen by almost 11%, thus signaling the market's wide skepticism about the deal's rationale and likelihood," analyst David Grinsztajn writes. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

January 28, 2025 09:36 ET (14:36 GMT)

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The Italian lender sees the deal as value destructive and highlighted the lack of industrial and financial rationale. It also noted the absence of appreciable synergies and potential client and staff losses. \"At the time of writing, since BMPS' announcement, Mediobanca's share price has increased by more than 4%, whereas that of BMPS has fallen by almost 11%, thus signaling the market's wide skepticism about the deal's rationale and likelihood,\" analyst David Grinsztajn writes. (elena.vardon@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 28, 2025 09:36 ET (14:36 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Arguments Put Forward by Mediobanca to Reject MPS Offer Reflect Market View -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nArguments Put Forward by Mediobanca to Reject MPS Offer Reflect Market View -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-01-28 22:36</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1436 GMT - The arguments Mediobanca's outlined when it rejected the surprise takeover offer from peer Banca Monte dei Paschi coincide with AlphaValue's first comments on the deal, the broker says in a research note. The Italian lender sees the deal as value destructive and highlighted the lack of industrial and financial rationale. It also noted the absence of appreciable synergies and potential client and staff losses. \"At the time of writing, since BMPS' announcement, Mediobanca's share price has increased by more than 4%, whereas that of BMPS has fallen by almost 11%, thus signaling the market's wide skepticism about the deal's rationale and likelihood,\" analyst David Grinsztajn writes. (elena.vardon@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 28, 2025 09:36 ET (14:36 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4207","symbol_name":"综合性银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2506356514","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2506356514","pubTimestamp":1738074960,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1436 GMT - The arguments Mediobanca's outlined when it rejected the surprise takeover offer from peer Banca Monte dei Paschi coincide with AlphaValue's first comments on the deal, the broker says in a research note. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4207":"综合性银行","BK4202":"服装、服饰与奢侈品","MDIBY":"MedioBanca SpA"},"translate_title":"Mediobanca提出的拒绝MPS报价的论点反映了市场观点——Market Talk","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MDIBY":0.9,"FORD":1},"content_text":"1436 GMT - The arguments Mediobanca's outlined when it rejected the surprise takeover offer from peer Banca Monte dei Paschi coincide with AlphaValue's first comments on the deal, the broker says in a research note. The Italian lender sees the deal as value destructive and highlighted the lack of industrial and financial rationale. It also noted the absence of appreciable synergies and potential client and staff losses. \"At the time of writing, since BMPS' announcement, Mediobanca's share price has increased by more than 4%, whereas that of BMPS has fallen by almost 11%, thus signaling the market's wide skepticism about the deal's rationale and likelihood,\" analyst David Grinsztajn writes. (elena.vardon@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 28, 2025 09:36 ET (14:36 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}