1314 GMT - Proxy advisory firm Glass Lewis says it issued a positive view on Monte dei Paschi di Siena's hostile takeover offer for peer Mediobanca. Shareholders of Italian bank MPS are set to vote on the board's proposed capital increase for its all-share bid for its larger peer on April 17. "We readily acknowledge that the proposed combination of Mediobanca with MPS carries identifiable execution risks... While this presents a relatively unique challenge in the context of bank mergers, we believe these concerns are manageable with disciplined execution," it says in a report. The successful track record of MPS's CEO in terms of M&A deals helps mitigate some of the risks, it adds. MPS's rationale for the acquisition is coherent and justifies the efforts, Glass Lewis notes.(elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 04, 2025 09:15 ET (13:15 GMT)
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