Intermonte seen up 20% after takeover bid from Banca Generali
16/09/2024 08:30
** Shares in Italy's Intermonte INTM.MI are indicated up
19.7% after the investment bank and brokerage received a
takeover offer from Banca Generali BGN.MI
** Banca Generali is offering 3.04 euros a share to buy out
other investors in the Milanese investment firm and take it
private, a premium of 21.9% to Intermonte's Friday close
** It said Intermonte's controlling shareholders, who own
52% of its capital, had already agreed to take up the offer
** As of 0729 GMT Intermonte's shares were halted and
indicated to open at 2.98 euros, according to LSEG data, which
would be their highest price since January 2022
** Shares in Banca Generali are flat
(Reporting by Alessandro Parodi)