Glass Lewis Advises Monte dei Paschi Shareholders to Reject BPM and Generali Bids

Key Facts

Proxy advisor Glass Lewis recommended that Monte dei Paschi shareholders reject the bids submitted by Banco BPM and Generali. Reuters reported that the recommendation applies to both takeover and investment proposals issued to the Italian lender.

The recommendation follows an assessment of the offer terms and strategic fit within the Italian banking sector. Guidance from major proxy advisors often impacts shareholder voting and the final outcome of announced M&A activity.