Intesa Sanpaolo May Raise Takeover Offer for Mps
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Intesa Sanpaolo is a big bank in Italy. It wants to buy another bank called Mps.
Intesa Sanpaolo may give more money for Mps. It could pay 25 cents more for each share.
A share is a small part of a company. People who own shares are called shareholders.
This plan to buy Mps is called a takeover offer. It is an offer to buy a whole company.
Intesa Sanpaolo will only pay more money in one case. The Mps shareholders must vote no to a different plan.
That plan comes from Luigi Lovaglio. He is the chief executive of Mps.
A chief executive is the top boss of a company.
The new, higher offer would cost about 3.8 billion euros. Some of this money would be cash.
Cash means real money, not shares.
Intesa Sanpaolo called the shareholder vote a referendum. A referendum is a vote where people choose yes or no.
The bank held a special meeting about this plan. This meeting is called an extraordinary board meeting.
Vocabulary15 words
- share
- a small part of a company
- shareholders
- people who own shares
- takeover offer
- an offer to buy a company
- chief executive
- the top boss of a company
- cash
- real money, not shares
- referendum
- a vote where people choose yes or no
- extraordinary board meeting
- a special meeting of company leaders
- bank
- a company that keeps and lends money
- plan
- an idea for what to do
- offer
- money you say you will pay
- company
- a business
- buy
- to get something by paying money
- raise
- to make bigger
- vote
- to choose in a group decision
- billion
- a thousand million
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Quiz
Answer key
1. Buy Mps 2. If shareholders vote no to Lovaglio's plan 3. The chief executive of Mps
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Intesa Sanpaolo is a big bank in Italy. It wants to buy another bank called _____.
Intesa Sanpaolo may give more money for Mps. It could pay 25 _____ more for each share.
A share is a small part of a company. People who own shares are called _____.
This plan to buy Mps is called a _____. It is an offer to buy a whole company.
Intesa Sanpaolo will only pay more money in one case. The Mps shareholders must _____ no to a different plan.
That plan comes from Luigi Lovaglio. He is the chief executive of _____.
The new, higher offer would cost about 3.8 _____ euros. Some of this money would be cash.
Intesa Sanpaolo called the shareholder vote a _____.
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