|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||12.24 - 12.28|
|52-week range||5.00 - 12.58|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||7.42|
|Earnings date||09 Feb 2021|
|Forward dividend & yield||N/A (N/A)|
|1y target est||0.11|
Credit Agricole Italia secured majority support for a $1 billion takeover of rival bank Creval on Wednesday, after agreeing to pay the maximum price regardless of acceptance levels for its offer. A low take-up had threatened to thwart plans by France's second-largest bank Credit Agricole to cement its presence in Italy's consolidating banking sector, which is its biggest foreign market. Credit Agricole Italia had upped the bid price to 12.20 euros a share from an initial 10.50 euros, a level which Creval shares had been consistently trading above.
Credit Agricole Italia (CAI) on Wednesday welcomed comments by Creval's chief executive in relation to its takeover offer for the Italian regional bank, but criticised its valuation of the bid. The Italian arm of Credit Agricole in November said it would spend 737 million euros ($868 million) to expand its presence in Italy's consolidating banking sector, its biggest market outside France. On Monday Creval said a takeover offer by CAI was a good strategic move, but added that the price was too low.
MILAN (Reuters) -Credit Agricole Italia cannot say at present whether its proposed takeover of Creval will be able to benefit from Italian tax measures aimed at spurring mergers, the Italian arm of France's Credit Agricole said. Credit Agricole Italia is set to launch its offer on March 30 after receiving on Monday a green light from Italian market regulator Consob to the offer's prospectus. To expand its footprint in Italy, its second-largest market after France, Credit Agricole Italia in November said it would pay 10.5 euros for each Creval share in a 737 million euro ($876.74 million) buyout offer.