Italy's illimity bank jumps on takeover bid from Banca Ifis

illimity Bank SpA

08/01/2025 08:58

** Shares in illimity bank  ILTY.MI  jump 6.7% to 3.61 euros
after peer Banca Ifis  IF.MI  launched a voluntary tender offer
for the Italian lender
    ** The offer of 3.55 euros per share values illimity at 298
million euros ($308 million), amounting to a 5.88% premium to
Tuesday's closing price
    ** Shares in Banca Ifis rise as much as 1.3%
    ** Broker Banca Akros recommends investors to accept the
offer, and cuts illimity's target price to 3.70 euros from 4.40
euros 

($1 = 0.9670 euros)

 (Reporting by Michela Stasio)
 ((Michela.stasio@thomsonreuters.com))