MILAN (Reuters) -Calvert and New York City Comptroller Brad Lander will vote in favour of Italian merchant bank Mediobanca’s bid for private bank Banca Generali on June 16, the two U.S. funds said on their respective websites on Thursday.
Mediobanca in April proposed buying Banca Generali from insurer Generali as it seeks to stave off a buyout bid from Monte dei Paschi di Siena (MPS).
Due to the MPS bid and Italian corporate takeover rules, Mediobanca must first seek shareholders’ approval to pursue the Banca Generali deal and has called a meeting for June 16 to vote on the plan.
Italian tycoon Francesco Gaetano Caltagirone, a leading investor in Mediobanca, has expressed a negative view on the Banca Generali bid and is seeking a a delay of the shareholder vote saying key details are still unclear.
The two funds did not disclose their stakes in Mediobanca.
(Reporting by Gianluca Semeraro, editing by Valentina Za)
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