Intesa Sanpaolo raises and rips a double, very heavy yes on the road that leads to the conquest of Ubi Banca. The group led by Carlo Messina, after having received the go-ahead from the Antitrust Authority, after an extraordinary board of directors raises the price of the offer, adding a cash compensation of 0.57 euros per share. “We want to generate benefits for all the stakeholders of the two groups and at the same time to strengthen support for Italy’s real and social economy”, explains Ca ‘de Sass. It is the move that the big partners were waiting for, and it bends the initial resistance of two of the protagonists of the CAR, the hard core of the shareholders who holds 19% of the shares. The first to announce the adhesion is Banca del Monte di Lombardia, which will confer its 4.96%, in the evening the Cassa di Risparmio di Cuneo Foundation queued up, the first shareholder of the Bergamo-based institution with a share of more than 5 percent.
The offer is, for each Ubi share, of 1.7 newly issued Intesa Sanpaolo shares and a cash consideration of 0.57 euro. The consideration thus rises to € 4.824 and therefore incorporates a premium of 44.7% compared to the price of the Ubi Banca share recorded on February 14 (€ 3.333). In the event of full acceptance of the offer, the cash consideration received by Ubi shareholders is quantifiable in approximately 80 million euros for the Foundations in support of disbursements to local communities, and approximately 310 million euros for the families and entrepreneurs of the territory.