UniCredit's Withdrawal From Banco BPM Bid Shows Discipline -- Market Talk

Dow Jones07-23

0936 GMT - By pulling out of its takeover offer for Banco BPM, UniCredit is sending a strong signal that it won't pursue deals at any cost, Morningstar says in a market comment. "This stance will likely strengthen its position in future negotiations," analyst Johann Scholtz writes. The risk of overpaying was real given the current competitive environment and M&A activity, he notes. Significant regulatory hurdles also presented execution risk and would have complicated the realization of synergies. Walking away shows Unicredit's strategic discipline, he adds. Shares in UniCredit--which separately posted second-quarter results and raised its guidance--rise 4.8% while Banco BPM's fall 1.9%. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

July 23, 2025 05:36 ET (09:36 GMT)

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Significant regulatory hurdles also presented execution risk and would have complicated the realization of synergies. Walking away shows Unicredit's strategic discipline, he adds. Shares in UniCredit--which separately posted second-quarter results and raised its guidance--rise 4.8% while Banco BPM's fall 1.9%. 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The risk of overpaying was real given the current competitive environment and M&amp;A activity, he notes. Significant regulatory hurdles also presented execution risk and would have complicated the realization of synergies. Walking away shows Unicredit's strategic discipline, he adds. Shares in UniCredit--which separately posted second-quarter results and raised its guidance--rise 4.8% while Banco BPM's fall 1.9%. 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