A logo connected the UniCredit SpA office successful Milan, Italy, connected Saturday Jan. 22, 2022.
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Italian lender UniCredit connected Monday offered to drawback up its home rival Banco BPM for astir 10 cardinal euros ($10.5 billion) successful a determination it says is abstracted from its pursuit of German slope Commerzbank.
The determination would, if completed, merge 2 of Italy's largest lenders. UniCredit said successful a connection aboriginal Monday that it is offering 6.657 euros for each stock — a flimsy premium connected Friday's adjacent terms of 6.644 euros.
UniCredit said the purchase, which would beryllium an all-stock deal, would let the slope to "further fortify its relation arsenic a starring pan-European banking group."
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Correction: This communicative has been updated to bespeak the close spelling of Banco BPM.
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