UniCredit Informed Government, Banco BPM Ahead of Making Bid.

UniCredit SpA informed the Italian government and Banco BPM SpA Chairman about its intention to make a takeover bid for its smaller rival before announcing the move. UniCredit's CEO, Andrea Orcel, had a call with Banco BPM's Chairman to inform him about the upcoming unsolicited all-share bid. This move by UniCredit is part of Orcel's strategy to evaluate strategic options and consider mergers and acquisitions that add value. The bid is seen as a way for UniCredit to expand in the Lombardy region and enhance its business segments. [Extracted from the article]