A PYMNTS Company

Generali May Launch Cattolica Bid In Early October

By  |  June 1, 2021

Italy’s top insurer Generali is expected to launch its takeover bid for smaller rival Cattolica between late September and early October, a source close to the situation said on Tuesday, June 1, adding the buyout offer would end in November.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Generali on Monday announced it would launch a €1.17 billion (US$1.43 billion) takeover offer for Cattolica, which it expects to conclude by the end of the year, to cement its domestic market leadership.

    Generali has about 20 days to prepare the documents it needs to submit to industry and market authorities to gain clearance for the offer, with a decision by regulators expected after the summer, the source said.

    Among conditions set for the offer to be effective, Generali has included an unconditional approval of the deal by Italy’s antitrust authority.

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.