Assicurazioni Generali shareholders ready to evaluate Intesa Sanpaolo offer - reports (translated)
28 JAN 2017
Shareholders of Italian insurer Assicurazioni Generali [BIT: GASI] are ready to evaluate an offer from Intesa Sanpaolo [BIT: ISP], Italian-language daily Il Sole 24 Ore reported. The unsourced report said that interest among Generali's historical shareholders has been growing, especially in regard to pricing and the industrial logic of the proposal.
Intesa has still not decided to go ahead with the bid but is likely to make a decision in the near future. The report said that the dossier was not discussed at an Intesa meeting yesterday 27 January but that this weekend is likely to see an acceleration. It is possible that Intesa will call a board meeting before the one scheduled for 3 February. The report claimed that such a meeting could be held as early as tomorrow.
The bid is likely to come in at a maximum of EUR 17 a Generali share.
Generali has a market cap of EUR 24.02bn.
The original article appeared in print; Page 25