UniCredit CEO Says He’s Got Until March to Review Banco BPM Bid

Bloomberg12-05

(Bloomberg) -- UniCredit SpA has until the middle of March to tweak its takeover bid for Banco BPM SpA, Chief Executive Officer Andrea Orcel told investors at a closed door meeting Wednesday. Orcel, ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2489948402?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/_RNnQv2507wAlizV0nRs0Q--~B/aD0xMzM0O3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/e8fb99696617613c57a05319215055b3","is_english":true,"pubTime":"2024-12-05 16:13","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2489948402","market":"us","top_or_hot":-1,"title":"UniCredit CEO Says He’s Got Until March to Review Banco BPM Bid","media":"Bloomberg","content":"<div>\n<p>(Bloomberg) -- UniCredit SpA has until the middle of March to tweak its takeover bid for Banco BPM SpA, Chief Executive Officer Andrea Orcel told investors at a closed door meeting Wednesday.\nOrcel, ...</p>\n\n<a href=\"https://finance.yahoo.com/news/unicredit-ceo-says-got-until-081337129.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>UniCredit CEO Says He’s Got Until March to Review Banco BPM Bid</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUniCredit CEO Says He’s Got Until March to Review Banco BPM Bid\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-05 16:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/unicredit-ceo-says-got-until-081337129.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- UniCredit SpA has until the middle of March to tweak its takeover bid for Banco BPM SpA, Chief Executive Officer Andrea Orcel told investors at a closed door meeting Wednesday.\nOrcel, ...</p>\n\n<a href=\"https://finance.yahoo.com/news/unicredit-ceo-says-got-until-081337129.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"UNCFF","symbol_name":"UniCredito Spa","start_time":0,"source_url":"https://finance.yahoo.com/news/unicredit-ceo-says-got-until-081337129.html","article_id":"2489948402","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/_RNnQv2507wAlizV0nRs0Q--~B/aD0xMzM0O3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/e8fb99696617613c57a05319215055b3"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2489948402","pubTimestamp":1733386417,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -- UniCredit SpA has until the middle of March to tweak its takeover bid for Banco BPM SpA, Chief Executive Officer Andrea Orcel told investors at a closed door meeting Wednesday.Orcel, who made the remarks at an event hosted by Bank of America Corp., also said that most of the projected savings wouldn’t come from job reductions, according to people who attended the event. They asked not to be named because they weren’t authorized to talk about it.UniCredit last week unveiled an unsolicited all-share bid for Banco BPM valuing the smaller rival at around 10 billion , based on Wednesday’s market close. That’s below the current market capitalization of 11 billion. Banco BPM has rebuffed the offer as too low and warned a deal could put 6,000 jobs at risk.In a meeting with analysts, UniCredit reaffirmed it plans to pay out half of its profits as dividends, Jefferies analysts including Marco Nicolai said in a note on Wednesday. That promise “is bulletproof, even in the first year of a poten","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"UNCFF":"UniCredito Spa","BNCZF":"Banco BPM Societa Per Azioni","UNCRY":"UniCredito Spa","BK4207":"综合性银行"},"translate_title":"裕信银行首席执行官表示，他必须在3月份之前审查Banco BPM的出价","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BNCZF":0.9,"UNCFF":0.9,"UNCRY":0.9},"content_text":"(Bloomberg) -- UniCredit SpA has until the middle of March to tweak its takeover bid for Banco BPM SpA, Chief Executive Officer Andrea Orcel told investors at a closed door meeting Wednesday.\nOrcel, who made the remarks at an event hosted by $Bank of America Corp(BAC-N)$., also said that most of the projected savings wouldn’t come from job reductions, according to people who attended the event. They asked not to be named because they weren’t authorized to talk about it.\nA representative for UniCredit declined to comment.\nUniCredit last week unveiled an unsolicited all-share bid for Banco BPM valuing the smaller rival at around €10 billion ($10.5 billion), based on Wednesday’s market close. That’s below the current market capitalization of €11 billion. Banco BPM has rebuffed the offer as too low and warned a deal could put 6,000 jobs at risk. \nUniCredit has estimated that a takeover of Banco BPM would yield a reduction of €900 million in the combined entities’ annual costs. \nIn a meeting with analysts, UniCredit reaffirmed it plans to pay out half of its profits as dividends, Jefferies analysts including Marco Nicolai said in a note on Wednesday. That promise “is bulletproof, even in the first year of a potential consolidation,” the analysts said.\nThe UniCredit executives in that meeting also talked about their potential takeover bid for the German lender Commerzbank AG, signaling that clarity on that may not come before the end of next year, according to the Jefferies analysts. That’s because it may take six months from the time of federal elections in February for the country to get a new government.\nUniCredit in September took a major stake in Commerzbank and said it’s considering an acquisition. Germany owns a 12% stake in the lender and the current government opposes the deal.\n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2489948402"}