Deals
Intesa Said to Sound Out Investors Ahead of Bid for Generali
- Bank is also weighing options for unwanted Generali assets
- Some Generali investors have indicated they’re open to a deal
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Intesa Sanpaolo SpA is sounding out investors about a possible combination with Assicurazioni Generali SpA and weighing which of the insurer’s assets it might sell, according to people with knowledge of the matter.
Intesa Chief Executive Officer Carlo Messina is seeking support from institutional investors in both companies, and doesn’t plan to make a bid for Generali before collecting a consensus from shareholders, the people said, asking not to be identified because the deliberations are private. As part of the review, the company is evaluating potential buyers for businesses owned by Generali that it wouldn’t want to keep after a takeover, one of the people said.