BCI merger plan sinks bank's shares 1%
Article Abstract:
Banca Commerciale Italiana SpA's (BCI) stock value dropped by 1% on July 1, 1999, one day after the details of a proposed BCI-Banca Intesa SpA merger were revealed. BCI stockholders would receive a 13.9% premium over the closing stock price on June 29 under the terms of the deal. BCI is valued at 14.8 billion euros. Also under the deal, BCI will keep its brand name and independence. The deal would create the largest banking group in Italy.
Comment:
Stock value drops 1% one day after details of proposed BCI-Banca Intesa merger are revealed
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Banca Intesa wins holders' approval to acquire BCI
Article Abstract:
Stockholders in Banca Intesa SpA gave their approval to the management's plans to acquire Banca Commerciale Italiana. The deal would create the largest bank in Italy. It would also form the eleventh-largest bank in Europe. Banca Intesa's shareholders also approved a two trillion lire (1.03 billion euros) capital increase. The newly-formed bank would have approximately 279 million billion euros in assets.
Comment:
Stockholders in Banca Intesa approve management's plans to acquire Banca Commerciale Italiana
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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