Adnkronos Rome, 13 June – (Adnkronos) – "The valorisation of Bp Sondrio by Bper does not recognise the real value of Bp Sondrio and its growth prospects and significantly penalises Bp Sondrio shareholders compared to Bper shareholders, despite the consideration being financially appropriate". This was reported by the board of directors of the Lombardy bank in a note on the takeover bid launched by the Bper group in which it underlines how "the announcement of the Offer took place before the presentation of the new 2025-2027 Industrial Plan of BP Sondrio, therefore the valuation analysis conducted by BPER for the purpose of determining the consideration does not take into account these important information elements"
Popolare di Sondrio notes that "the valuation analysis conducted by BPER for the purpose of determining the consideration is based on the estimates of a limited number of research analysts and of limited informative value, whose projections have historically underestimated the results of BP Sondrio, always higher than the consensus".
Furthermore, the Board of Directors underlines that "the premium that BPER declares to recognize to the shareholders of BP Sondrio at the date of announcement of the offer is very low, a situation with rare precedents for operations of this type".
According to the top management of the Lombardy institution, "since the announcement date of the Offer, the consideration has always remained at a discount compared to the market price of BP Sondrio and the consideration does not adequately value the synergies achievable through the aggregation declared by BPER".