• Monte dei Paschi launched exchange offers for all shares of Banco BPM and Banca Generali to build a scaled Italian banking and wealth group.
• Banco BPM holders would receive 1.567 newly issued MPS ordinary shares per share tendered; minimum acceptance set at 50% plus one share.
• Banca Generali holders would receive 6.958 newly issued MPS ordinary shares per share tendered; minimum acceptance set at 50% plus one share.
• MPS plans an extraordinary distribution of about EUR 4 billion before settlement, split between EUR 1 billion cash and EUR 3 billion Generali shares.
• Management targets about EUR 2.6 billion in annual run-rate synergies, with the combined group projected to hold about EUR 810 billion in total financial assets.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Banca Monte dei Paschi di Siena S.p.A. published the original content used to generate this news brief via SDIR, the Italian regulatory disclosure system (Ref. ID: 159166.pdf), on August 21, 2026, and is solely responsible for the information contained therein.