Delfin backed Intesa's MPS bid as Intesa Sanpaolo stock sat 11.08 percent below its high

Published on 10/12/2026 at 10:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Net income reached EUR 5.60 billion in the first half, up 6.00 percent. Intesa Sanpaolo stock trades at EUR 6.18 on October 12, 2026 versus EUR 6.12 Xetra close.

Key points in brief

Delfin committed its 17.6 percent MPS stake to Intesa Sanpaolo's offer, supporting the latest transaction step.
The offer includes EUR 800 million in additional cash and a EUR 1.25 cash component per MPS share.
Intesa Sanpaolo stock was at EUR 6.18 on October 12, 2026, 0.98 percent above the EUR 6.12 Xetra close of October 9.
First-half 2026 net income reached EUR 5.60 billion, up 6.00 percent year over year.

Bauhaus-Grafikposter mit geometrischen Banksymbolen in Primärfarben und Text BANCA RETAIL — Intesa Sanpaolo IT0000072618 – Bauhaus-Poster mit geometrischen Banksymbolen und Text BANCA RETAIL, Illustration mit AI erstellt.

Intesa Sanpaolo stock (ISIN IT0000072618) was trading at EUR 6.18 at Lang & Schwarz on October 12, 2026 at 10:02 a.m. CEST, 0.98 percent above the EUR 6.12 Xetra close of October 9 and 11.08 percent below its EUR 6.95 52-week high. On October 9, 2026, Intesa published documents for Delfin's undertaking, while its October 4 release said the shareholder would tender 17.6 percent of MPS.

Delfin strengthens the MPS offer

According to Intesa Sanpaolo on October 4, 2026, Delfin committed to tendering 534,676,825 MPS shares, equal to 17.6 percent of MPS's share capital. The commitment also covers voting at the MPS shareholder meeting in a manner consistent with the offer conditions.

Yahoo Finance reported on October 6, 2026 that Intesa had added EUR 800 million in cash to the MPS bid. The cash component rose from EUR 1.00 to EUR 1.25 per MPS share, while the exchange ratio remained 1.60 new Intesa shares per MPS share.

Three dates shape the transaction

On July 29, 2026, Yahoo Finance published the first-half earnings call transcript, which reported EUR 5.60 billion in net income and a 6.00 percent year-over-year increase. On October 4, Intesa disclosed Delfin's 17.6 percent undertaking. On October 9, 2026, Intesa Sanpaolo published the essential information and excerpt of the undertaking documents.

What does Delfin support change?

The 17.6 percent commitment improves the offer's shareholder backing before the MPS vote, but the transaction still carries a clear procedural hurdle. Yahoo Finance said the MPS meeting is scheduled for October 29, 2026, and that approval of the alternative defense plan could cause Intesa to withdraw the bid.

The operating backdrop gives the transaction financial weight. In the first half of 2026, Intesa reported EUR 5.60 billion of net income, while management raised full-year net income guidance to more than EUR 10 billion and expected EUR 9.40 billion in dividends and buybacks. Net interest income in the second quarter increased 6.00 percent quarter over quarter, according to the earnings call transcript.

Stock remains below its yearly high

Intesa Sanpaolo's market capitalization was EUR 109.4 billion on October 12, 2026. The EUR 6.18 Lang & Schwarz price stood inside the EUR 4.83 to EUR 6.95 52-week range, leaving the stock 11.08 percent below the high.

Jefferies raised its target for Intesa Sanpaolo from EUR 7.80 to EUR 8.00 on September 30, 2026, while keeping a Buy rating, according to wallstreetONLINE. The target was 29.45 percent above the Lang & Schwarz price, using the same EUR currency.

The further course of trading is shown by the continuously updated real-time quote of Intesa Sanpaolo stock.