Intesa Sanpaolo filed its formal offer document with Italy’s securities regulator Consob on June 27, 2026, marking a critical procedural step in its voluntary public takeover bid for Monte dei Paschi di Siena.
The submission triggers the regulatory clock on what would be one of the largest banking combinations in European history. The offer values each MPS share at €10.091, structured as 1.6 Intesa Sanpaolo shares plus €1.00 in cash, placing the total transaction at approximately €30.6 billion.
Intesa Sanpaolo announced the bid on June 8, 2026, at a 12.5% premium to MPS’s five-day volume-weighted average price. The offer document, formally known as the Offerta Pubblica di Acquisto e Scambio, discloses the terms, conditions, and risk factors required under Italian securities law before the acceptance period can open.
The combined entity would rank as the second-largest banking group in the eurozone by market capitalization, with a projected customer base of 27 million and financial assets approaching €2 trillion by 2029. Intesa Sanpaolo estimates annual synergies of €2.9 billion and projects combined net profit of €16 billion after integration.
Regulatory approvals from the Bank of Italy, the European Central Bank, IVASS, the Italian antitrust authority, and Golden Power authorities remain pending, with supervisory sign-off expected by year-end. An extraordinary general meeting to authorize the required capital increase is scheduled for September 10, 2026. The offer requires a minimum acceptance threshold of 66.67% of MPS share capital.
The deal reflects ongoing consolidation pressure in European banking, as institutions seek scale to compete with U.S. and Asian peers. For context on how technology and deal-making are reshaping the sector, see Agentic Banking Gets Its First Platform Acquisition: Backbase Buys Kasisto.
Source: Intesa Sanpaolo Newsroom
