Banca Monte dei Paschi di Siena, IT0005508921

Proxy advisers oppose twin bids as Banca Monte dei Paschi di Siena stock faces October 29 vote

Published on 10/15/2026 at 10:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Proxy advisers oppose bids before October 29, 2026. Banca Monte dei Paschi di Siena stock costs EUR 11.18 on October 15 within EUR 6.84 to EUR 12.08.

Shareholder decision and takeover risk

Shareholders will vote on October 29, 2026, on two acquisitions and a special dividend.
Delfin committed 534,676,825 shares, equal to 17.6 percent of the bank, on October 4, 2026.
Banca Monte dei Paschi di Siena stock trades at EUR 11.18 at 10:42 a.m. CEST at Lang & Schwarz on October 15, 2026.
The bank has a EUR 33.9 billion market capitalization as of October 15, 2026.

Banca Monte dei Paschi di Siena, IT0005508921, Illustration mit AI erstellt.

Banca Monte dei Paschi di Siena (ISIN IT0005508921) was trading at EUR 11.18 at Lang & Schwarz on October 15, 2026, at 10:42 a.m. CEST. Reuters reported on October 14, 2026, that ISS and Glass Lewis urged shareholders to reject the proposed Banco BPM and Banca Generali acquisitions. The decision centers on the October 29 shareholder vote.

Two bids face a decisive vote

The takeover dispute is now tied to a wider defense plan. Intesa Sanpaolo has made an offer for MPS, while MPS management has proposed acquiring Banco BPM and Banca Generali and completing the Mediobanca integration.

On October 4, 2026, Delfin committed to tender 534,676,825 MPS shares, equal to 17.6 percent of the bank's share capital, according to Intesa Sanpaolo. The undertaking also covers participation in the shareholders meeting and voting in line with the offer conditions.

What does 17.6 percent mean?

The stake matters because the vote concerns transactions that would expand the bank through multiple deals. Il Sole 24 Ore reported on October 13, 2026, that ISS supported the Mediobanca merger but opposed the Banco BPM and Banca Generali transactions and a EUR 4.0 billion special dividend. That combination makes execution and governance central issues for shareholders.

Three dates define the dispute

On October 4, 2026, Delfin disclosed its 17.6 percent undertaking. On October 14, 2026, ISS and Glass Lewis opposed the twin acquisitions. On October 15, 2026, MPS announced that its ordinary and extraordinary shareholders meeting would address four extraordinary agenda items, according to AWP.

October 29 is the next test

The next substantiated date is October 29, 2026, when MPS shareholders will vote on the proposed transactions. The bank's market capitalization was EUR 33.9 billion as of October 15, 2026, while its 52-week range stood at EUR 6.84 to EUR 12.08.

Stock remains near its yearly high

MPS stock was trading at EUR 11.18 at Lang & Schwarz on October 15, 2026, at 10:42 a.m. CEST. Its 52-week high was EUR 12.08 on the same market-data date. The further course of trading is shown by the continuously updated real-time quote of Banca Monte dei Paschi di Siena stock.