Aankondiging • Jul 23

UniCredit S.p.A. (BIT:UCG) withdrew it's offer to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A., BlackRock, Inc. (NYSE:BLK), Enasarco Ente Nazionale Assistenza Agenti Rappresentanti Di Commercio, Leone Davide and others.

UniCredit S.p.A. (BIT:UCG) launched a voluntary public exchange offer to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A., BlackRock, Inc. (NYSE:BLK), Enasarco Ente Nazionale Assistenza Agenti Rappresentanti Di Commercio, Leone Davide and others for €10.1 billion on November 24, 2024. The exchange ratio has been set at 0.175 newly issued shares of UniCredit for each existing share of Banco BPM, implying an offer price at €6.657 per share and a premium of circa 0.5% based on official prices as of November 22, 2024 and not subject to any adjustment. The Offer relates to a maximum of 1,515,182,126 Issuer’s Shares representing 100% of the Issuer’s share capital. If completed, the transaction will enable UniCredit to further accelerate the delivery of sustainable long term quality growth. It will substantially reinforce its position in Italy while at the same time ensuring investment in Banco BPM’s own client franchise, distribution channels and technology. The voluntary public exchange offer is autonomous and independent from the investment made by UniCredit in the share capital of Commerzbank. The Offer is subject to the approval of the proposal for the Delegation concerning the Share Capital Increase Reserved to the Offer by the Offeror’s shareholders at the relevant shareholders’ meeting and of the Offer Document by Consob at the end of the relevant review period. The Offer is, moreover, subject to the fulfilment of each of the following conditions precedent i.e., the competent antitrust authorities approve without conditions, limitations and requirements the acquisition of BPM proposed by the Offeror with this Offer, a stake equal to at least 66.67% of the Issuer’s share capital, The Offeror may waive, in whole or in part, one or more of the Conditions to the Effectiveness of the Offer or modify them, in whole or in part, in accordance with applicable laws, giving notice thereof pursuant to applicable laws. A maximum of 265,156,873 newly issued shares of UniCredit, as a maximum aggregate amount of the Consideration, will be issued to the tendering BPM shareholders (other than the Offeror), representing approximately 13.9% of the share capital of UniCredit following the execution of the Capital Increase Reserved to the Offer. As specified above, the Offer aims at purchasing the Issuer’s entire share capital of the Issuer or at least a stake equal to 66.67% and at reaching the delisting of the BPM Shares from Euronext Milan. The Board of Directors of UniCredit S.p.A. (“UniCredit”) has approved the launch of a voluntary public exchange offer. It is expected the settlement of the exchange offer will be completed by June 2025, with full integration completed within approximately 12 months thereafter with the majority of synergies realized within 24 months. The Offer tender period of the Issuers’ Regulation, will be agreed upon by the Offeror and Borsa Italiana and will range from a minimum of fifteen to a maximum of forty trading days, subject to extensions – will begin following the publication of the Offer Document. The Offer remains subject to the receipt of the relevant regulatory authorizations. As of November 26, 2024, Banco BPM said the bid from UniCredit does not reflect in any way the profitability and further potential to create value for Banco BPM shareholders. As of November 26, 2024, Mauro Paoloni, Director of Banco BPM says UniCredit bid becomes hostile. As of February, 12, 2025, Banco BPM Vita S.p.A. increased its offer price for Anima Holding SpA as it outlined higher midterm targets and seeks to defend itself from an unsolicited UniCredit takeover approach. As of February 27, 2025, A new heavy entry into the shareholders' register of Banco BPM, engaged in the takeover bid (OPA) on Anima and recipient of Unicredit's hostile offer and the stake could in fact be used to settle the derivative contracts on the 5.2% of Banco BPM that the Banque Vert signed at the beginning of December, pending obtaining the ok from the European Central Bank to exceed 10% of Piazza Meda, of which it holds 9.9%. As of March 12, 2025, the transaction has received from the Insurance Supervisory Authority (IVASS) the authorization to acquire - upon the positive outcome of the Offer - the indirect controlling stakes equal to 100% of the share capital of Banco BPM Vita S.p.A. and of Vera Vita S.p.A. and the indirect qualifying stakes equal to 35% of the share capital of Banco BPM Assicurazioni S.p.A. and of Vera Assicurazioni S.p.A. As of March 13, 2025, Italy will exercise its right to review UniCredit SpA's (BIT:UCG) bid for local rival Banco BPM (BIT: BAMI) in a measured way, economy minister Giancarlo Giorgetti. As of March 27, 2025, UniCredit S.p.A. shareholders approved the deal. As of March 28, 2025, ECB and Bank of Italy has approved the transaction to increase its stake in Italy'sBanco BPM (BIT: BAMI) to 19.8%. On April 1, 2025, Commissione Nazionale per le Societa e la Borsa has approved the transaction. As of April 2, 2025, Tender offer will start at 8:30 (Italian time) of April 28, 2025 and close at 17:30 (Italian time) of June 23, 2025 (first and last day included). June 23, 2025 will, therefore, be the closing date of the Public Exchange Offer, unless the tender period is extended in accordance with applicable regulations. The Consideration will be paid at the payment date, that is on July 1, 2025. UniCredit SpA will launch its voluntary public exchange offer for local rival Banco BPM (BIT: BAMI) on April 28, following approval from local financial regulator Consob. Under the terms, BPM shareholders who participate will receive 0.175 newly issued UniCreditshares for each BPM share tendered. These shares will carry regular dividend rights and be identical to existing UniCreditshares. The payment date for the exchange is set for July 1, 2025. The offer is backed by UniCredit’s recent share capital increase, approved by its board at the end of March. On April 18, 2025, Government of Italy will exercise its so-called golden powers to set special conditions on the transaction and has approved the transaction with conditions i.e., a speedier exit from Russia is one of the many demands that regulators have placed to clear the deal and last year, the ECB had asked UniCredit to exitRussia as soon as possible. As of April 24, 2025 board of director's of Banco BPM formally rejects rival UniCredit's takeover bid. On April 27, 2025, UniCredit's public exchange offer on BancoBpm will start from tomorrow April 28, 2025, to which the shareholders of Banco BPM S.p.A. can join until June 23, i.e., the European Antitrust Authority has extended its review of the transaction to June 19, 2025, which is compatible with the June 23, 2025 deadline. As of May 21, 2025, Consob has suspended UniCredit SpA's takeover offer for Banco BPM for 30 days on May 21, 2025 due to uncertainty in ongoing talks between the bidder and the government over restrictive conditions imposed on the deal. As of June 4, 2025, one-month extension secured to the bid's deadline, now set for July 23 instead of June 23, as it continues talks with the government. An Italian court on Wednesday postponed its decision to July 9 on UniCredit's appeal against government-imposed conditions on its takeover bid for rival Banco B. UniCredit withdrew its request to suspend the government's decision ahead of the ruling, leading the court to forego deliberations on the matter. In late May the transaction has been approved by EU antitrust approval. As of June 19, 2025, The European Commission has approved, under the EU Merger Regulation (‘EUMR'), the proposed acquisition of Banco BPM S.p.A by UniCredit S.p.A. The offer is set to resume on June 30 after being paused due to a legal challenge from UniCredit, which is pending a court ruling on July 9, 2025. As of June 20, 2025, UniCredit announced that it has received authorization from the Directorate General for Competition (DGCOMP) for the acquisition of Banc UniCredit S.p.A. (BIT:UCG) withdrew it's offer to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A., BlackRock, Inc. (NYSE:BLK), Enasarco Ente Nazionale Assistenza Agenti Rappresentanti Di Commercio, Leone Davide and others on July 22, 2025. The Board of UniCredit announces the withdrawal of its offer for BPM as the condition relating to the golden power authorization is not satisfied. The transaction was suspended by consob.

Sneeuwvlok Score
Waardering	4/6
Toekomstige groei	1/6
Prestaties in het verleden	3/6
Financiële gezondheid	4/6
Dividenden	4/6

Historische aandelenkoersen
Huidige aandelenkoers	€14.39
52 Week Hoogtepunt	€14.39
52 Week Laag	€9.16
Bèta	0.52
1 maand verandering	9.52%
3 maanden verandering	26.18%
1 Jaar Verandering	48.27%
3 jaar verandering	270.08%
5 jaar verandering	398.79%
Verandering sinds IPO	431.20%

	BPM	DE Banks	DE Markt
7D	7.9%	2.9%	-0.7%
1Y	48.3%	39.2%	2.0%

BPM volatility
BPM Average Weekly Movement	5.5%
Banks Industry Average Movement	3.9%
Market Average Movement	5.9%
10% most volatile stocks in DE Market	13.0%
10% least volatile stocks in DE Market	2.8%

BPM fundamentele statistieken
Marktkapitalisatie	€21.73b
Inkomsten(TTM)	€2.05b
Inkomsten(TTM)	€5.42b

BPM resultatenrekening (TTM)
Inkomsten	€5.42b
Kosten van inkomsten	€0
Brutowinst	€5.42b
Overige uitgaven	€3.37b
Inkomsten	€2.05b

Winst per aandeel (EPS)	1.36
Brutomarge	100.00%
Nettowinstmarge	37.81%
Schuld/Eigen Vermogen Verhouding	182.4%

Gegevens	Laatst bijgewerkt (UTC-tijd)
Bedrijfsanalyse	2026/06/12 17:48
Aandelenkoers aan het einde van de dag	2026/06/12 00:00
Inkomsten	2026/03/31
Jaarlijkse inkomsten	2025/12/31

Pakket	Gegevens	Tijdframe	Voorbeeld Amerikaanse bron ^*
Financiële gegevens bedrijf	10 jaar	Resultatenrekening Kasstroomoverzicht Balans	SEC-formulier 10-K SEC-formulier 10-Q
Consensus schattingen analisten	+3 jaar	Financiële prognoses Koersdoelen analisten	Onderzoeksrapporten van analisten Blue Matrix
Marktprijzen	30 jaar	Aandelenprijzen Dividenden, splitsingen en acties	ICE Marktgegevens SEC-formulier S-1
Eigendom	10 jaar	Top aandeelhouders Handel met voorkennis	SEC-formulier 4 SEC-formulier 13D
Beheer	10 jaar	Leiderschapsteam Raad van bestuur	SEC-formulier 10-K SEC-formulier DEF 14A
Belangrijkste ontwikkelingen	10 jaar	Bedrijfsaankondigingen	SEC-formulier 8-K

Analist	Instelling
Juan Lopez Cobo	Banco Santander
Paola Sabbione	Barclays
Marta Bastoni	Barclays

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Prijsgeschiedenis en prestaties

Recent nieuws en updates

Banco BPM S.p.A. to Report Q3, 2026 Results on Nov 05, 2026

UniCredit S.p.A. (BIT:UCG) withdrew it's offer to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A., BlackRock, Inc. (NYSE:BLK), Enasarco Ente Nazionale Assistenza Agenti Rappresentanti Di Commercio, Leone Davide and others.

Unknown buyer acquired NPE leasing and banking loan portfolio of Banco BPM S.p.A. (BIT:BAMI) for €350 million.

UniCredit S.p.A. (BIT:UCG) launched a voluntary public exchange offer to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A., BlackRock, Inc. (NYSE:BLK), Enasarco Ente Nazionale Assistenza Agenti Rappresentanti Di Commercio, Leone Davide and others for €10.1 billion.

Third quarter 2024 earnings released

Second quarter 2024 earnings released: EPS: €0.25 (vs €0.24 in 2Q 2023)

Recent updates

Banco BPM S.p.A. to Report Q3, 2026 Results on Nov 05, 2026

UniCredit S.p.A. (BIT:UCG) withdrew it's offer to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A., BlackRock, Inc. (NYSE:BLK), Enasarco Ente Nazionale Assistenza Agenti Rappresentanti Di Commercio, Leone Davide and others.

Unknown buyer acquired NPE leasing and banking loan portfolio of Banco BPM S.p.A. (BIT:BAMI) for €350 million.

UniCredit S.p.A. (BIT:UCG) launched a voluntary public exchange offer to acquire Banco BPM S.p.A. (BIT:BAMI) from Crédit Agricole S.A., BlackRock, Inc. (NYSE:BLK), Enasarco Ente Nazionale Assistenza Agenti Rappresentanti Di Commercio, Leone Davide and others for €10.1 billion.

Third quarter 2024 earnings released

Second quarter 2024 earnings released: EPS: €0.25 (vs €0.24 in 2Q 2023)

Second quarter 2024 earnings released

First quarter 2024 earnings released

Upcoming dividend of €0.56 per share

Banco BPM S.p.A. (BIT:BAMI) commences an Equity Buyback Plan for €5 million worth of its shares, under the authorization approved on April 20, 2023.

Dividend increased to €0.56

Full year 2023 earnings released

Banco BPM S.p.A. to Report Fiscal Year 2023 Results on Feb 27, 2024

Third quarter 2023 earnings released

Second quarter 2023 earnings released

Banco BPM Seeks New Commercial Deal on Payments, Won't Sell

First quarter 2023 earnings released

Upcoming dividend of €0.23 per share at 6.0% yield

Investor sentiment deteriorates as stock falls 15%

Full year 2022 earnings released: EPS: €0.46 (vs €0.38 in FY 2021)

Third quarter 2022 earnings released

Second quarter 2022 earnings released

Investor sentiment deteriorated over the past week

Now 26% undervalued

First quarter 2022 earnings released

Now 20% undervalued

Upcoming dividend of €0.19 per share

Now 21% undervalued after recent price drop

Now 20% undervalued

Investor sentiment improved over the past week

Now 22% undervalued

Investor sentiment deteriorated over the past week

Full year 2021 earnings: Revenues exceed analyst expectations

Now 20% undervalued after recent price drop

Third quarter 2021 earnings released: EPS €0.073

Second quarter 2021 earnings released

First quarter 2021 earnings released: EPS €0.066

New 90-day high: €2.19

Full year 2020 earnings released

Investor sentiment improved over the past week

New 90-day high: €2.03

New 90-day high: €1.94

New 90-day high: €1.75

Third quarter 2020 earnings released: EPS €0.10

Banco BPM Società per Azioni to Report Nine Months, 2020 Results on Nov 05, 2020

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