European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

Monte Dei Paschi Di Siena’s €13.3 Billion Bid for Mediobanca: First Take

Unicredit/Banco BPM: Italian Banking Consolidation

Banco BPM: Credit Agricole Makes Its Move

Event-Driven

<ul>
<li>Hostile Takeover Attempt: BMPS launched a €13.3B all-share bid for Mediobanca, offering a 5% premium, but Mediobanca rejected it, citing governance conflicts and strategic misalignment.</li>
<li>Shareholder and Dilution Risks: BMPS shareholders face 39.3% dilution, while Delfin and Caltagirone’s post-merger 24% stake raises governance concerns, potentially sidelining smaller investors.</li>
<li>The deal faces integration risks, and Mediobanca’s shareholder resistance, with BMPS’s falling stock price erasing the initial premium, making success increasingly uncertain.</li>
</ul>


Hostile Takeover Attempt: BMPS launched a €13.3B all-share bid for Mediobanca, offering a 5% premium, but Mediobanca rejected it, citing governance conflicts and strategic misalignment.
Shareholder and Dilution Risks: BMPS shareholders face 39.3% dilution, while Delfin and Caltagirone’s post-merger 24% stake raises governance concerns, potentially sidelining smaller investors.
The deal faces integration risks, and Mediobanca’s shareholder resistance, with BMPS’s falling stock price erasing the initial premium, making success increasingly uncertain.


BMPS's Hostile Takeover Bid for Mediobanca: Strategic and Financial Implications

Mediobanca SpA

BMPS's Hostile Takeover Bid for Mediobanca: Strategic and Financial Implications