Investing,com -- Luxembourg-registered shareholder Delfin has committed to tender its entire 17.6% stake in Banca Monte dei Paschi di Siena (MPS) into Intesa Sanpaolo's voluntary takeover offer, strengthening the Italian bank's bid for its rival, Intesa said on Sunday.
Delfin holds 534.68 million MPS shares, all of which are covered by the undertaking, Intesa said on Oct. 4.
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Delfin has also committed to attend MPS' shareholder meeting and vote in line with the terms of Intesa's offer, the bank said.
Intesa's offer covers up to 3.04 billion MPS shares, excluding the 1.02 million shares it already owns. The number could increase by up to 272.01 million shares if MPS' planned merger with Mediobanca takes effect before the offer period closes.
Original Article
Delfin to tender full 17.6% Monte dei Paschi stake into Intesa's takeover offer
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