Overview

• Borsa Italiana reported the offer closed at 62.29% of Mediobanca’s capital, with 134,114,712 shares tendered on the final day.
• A formal reopening period runs from 16 to 22 September, giving remaining investors another chance to tender and potentially raising Mps’s stake.
• The bid offers 2.533 Mps shares plus €0.90 in cash per Mediobanca share, for a package widely cited at about €13.5 billion.
• Support from Delfin and the Caltagirone group, together near 30% of Mediobanca, helped unlock a wave of acceptances from institutions and funds.
• Financial Times reporting indicates CEO Alberto Nagel and the board plan to step down at the 18 September meeting as Mps prepares to use DTAs and its strengthened position around Generali.