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All the M&A transactions in Italy since 2025
Intesa Sanpaolo’s bid to acquire smaller rival Monte dei Paschi di Siena will be the biggest and most transformative deal for Italian banks. The following is a list of the completed and attempted transactions which have'shaken up the sector? since the beginning of 2025. 1. INTESA SANPAOLO – MONTE DEI PASCHI DI SIENA (MPS) – UNIPOL – BPER – BANCO BPM Intesa said on Monday that it's unsolicited EUR30.6 bn ($35 bn) cash-and-share offer for MPS will create the second largest lender in the Eurozone, placing Italy’s top bank behind Spain’s Banco Santander based on market value. Intesa will sell Unipol approximately half of the MPS network that it will receive as a result of the acquisition. The network will be combined with BPER in order to create a new bank operating under the MPS name. Intesa’s bid appears to have marginalized Banco?BPM which had on Sunday invited MPS in a "merger of equals". BPM is primarily owned by France's Credit Agricole with a 20% share. 2. ?UNICREDIT – COMMERZBANK UniCredit, who stayed away from Italian M&A after a failed bid for Banco BPM in Italy, announced last week that it had increased its direct shareholding?in Germany’s Commerzbank, to 34.4%. The company was pursuing a hostile takeover bid against strong German opposition. Milanese bank, second largest in Italy, began merger talks with Commerzbank in September 2024 after buying 9% of the German counterpart and signaling it was willing to take more. 3. CF+?BANCA SISTEMA Banca CF+, a speciality lender backed by Elliott, completed a EUR145 million offer in March for Banca Sistema. 4. MPS – MEDIOBANCA MPS acquired Mediobanca in September of last year for EUR16 billion, becoming the largest investor in Generali, an asset highly prized in Italian finance. This deal from a bank that was bailed out in 2017 by the government and reprivatised between 2023-2024 turned MPS to a major M&A player. 5. BANCA IFIS – ILLIMITY Venetian IFIS has completed a EUR298 million cash-and shares offer in August 2025 for Illimity. This digital?bank was founded by Corrado Passera, a veteran banker and former minister of industry. It was delisted later from the Milan bourse. 6. BPER – BANCA POPULARE DI SONDRIO In July 2025, Italy's fourth largest bank completed a EUR5.4billion cash-and-shares offer for the smaller counterpart based in northern city Sondrio. They called it a defensive measure dictated by the accelerating consolidation. The main shareholder of both banks,?Unipol Insurance, played an important role. 7. UNICREDIT BANCO BPM In July 2025, Italy's second largest bank backed out of its EUR15 billion all-share bid for Banco BPM. The reason given was that the government had set conditions to complete the deal. UniCredit's bid was made in November 2024. 8. BANCO ANIMA HOLDING Banco BPM bid on Anima Holding in April 2025, a EUR1.8-billion acquisition. 9. MEDIOBANCA BANCA GENERALI In an unsuccessful attempt to block MPS' bid for Banca Generali, Mediobanca made a EUR6.3 billion all-shares offer in April 2025. In August, it failed to gain approval from shareholders. 10. BANCA GENERALI – INTERMONTE Banca Generali acquired Intermonte in January 2025 for EUR98.2 millions to enhance its investment banking capabilities and add corporate finance advisory services to its wealth management offering.
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Soaring fertilizer prices dim Brazilian farmers' edge over US rivals
B razil’s cheap and abundant land has helped its farmers create large, low-cost farms. This allowed them to take away export markets from U.S. Farmers who were hurt by China switching suppliers as a result of President Donald Trump’s tariff wars. Brazil has become a major agricultural powerhouse, despite the fact that U.S. farm land hasn't grown in this century. ?But South America's edge will be tested by the U.S./Israeli war against Iran, which is sending fertilizer -prices soaring. Since the beginning of the war, a third of all fertilizer flow has been trapped in the Strait of Hormuz. Brazil is heavily dependent on imported fertilizers while the U.S. relies on its own production. Many Brazilian farmers have reduced their fertilizer purchases. Experts in the industry say that Brazil's farmers will still be in trouble even if the war ends tomorrow. They are already saddled with thousands acres of farmland that produce diminishing returns, or even losses. They are beginning to accumulate significant amounts of debt. Many U.S. Farmers have enough land to produce good yields even if they don't apply fertilizer for an entire year. Few Brazilian farmers are able to do that. The issue of varying growing seasons is also a concern. Brazil's spring planting begins in September, so its farmers are exposed to the soaring prices of fertilizers. The U.S. Farmers were almost finished with their purchases at the time of war. Brazilian farmers are not eligible for government bailouts and generous support programs. Murilo RabeloMartinsPereira, a Goias farmer in central Brazil, said: "Profitability is just not there." Everyone is currently rethinking expansion. Pereira, 34 years old, farms 800 hectares of soybeans, tomatoes, and corn. The rising production costs, he said, make expanding his farm too risky. He has been offered more land to lease. Purdue University agricultural economic Joana Colussi is a Brazilian-born economist. She said, "We'll definitely not see the same trend" in agricultural growth. She anticipates that growth will slow, at least temporarily as farmers invest more in fertilizer, fuel and seeds, and less in expansion. HISTORIC GROWTH China's booming agricultural demand prompted Brazil to begin its historic growth in agriculture. Brazil and the U.S. were forced to compete for vast areas of grassland that had been used for cattle grazing. Brazil has always been the winner. Brazil has been among the biggest winners. In 2000, U.S. sales of soybeans to China were nearly double Brazil's. By the end of 2025, Brazil will have sold twice as much soybeans to China. Brazil's expansion was based on the acquisition of cheap, vast land. Many of the soils are degraded today because farmers move to new plots when their old ones fallow instead of investing in soil health. DANGEROUS LAND, SEASONALITY Large-scale industrial agriculture in Brazil is a costly endeavor due to the degraded land. It requires large quantities of pesticides, gm seed, and other expensive biological inputs. Brazil is not the only country where farmers are struggling to make ends meet. You can survive a lower or even no fertilizer application if you have a better soil. "You can handle a shock such as this better", said Saswato das, global head for corporate affairs at Syngenta, a producer of seeds and pesticides. Even if farmers in the United States skip a season when they apply key fertilizers such as potash or diammonium-phosphate (DAP), they can still achieve average yields. This year, thousands of farmers have taken this approach. Potash and DAP are only used for one season on many Brazilian farms. Marshall Lee Davis, a farmer of peanuts and cotton who lives in Georgia, the southern U.S., says that U.S. farmers "just skimp out" on DAP. The price of DAP has roughly doubled since Iran's war began. Davis stated that even U.S. farmers who are able to skip one application of fertilizer were worried that they would be hit by higher prices in the fall if they begin buying before their spring planting 2027 next March. Since the Iran War began, Brazilian farmers have faced high fertilizer prices, as they still need to complete their spring planting for 2026 this September, and even plant a second crop in early 2027. Murphy Campbell, an Expana analyst, said that North American farmers were in a much better position than Brazilian farmers because of seasonality. FERTILIZER, FARMER PROTECTIONS Brazil imports a large amount of DAP as well as nitrogen-based urea – the most commonly used fertilizer in the world. Petrobras, Brazil's state oil company, is reopening some of its less profitable fertilizer plants that were idled by former president Jair Bolsonaro. It hopes to meet 35% the country's needs for nitrogen fertilizer in the coming years. The price of corn and soybeans, despite high fertilizer prices, has not increased much since the beginning of the war. This is because large harvests over the past few years have led to global stock builds up. The result has been a squeeze on farmer margins around the world, particularly for those who depend on fertilizer imports. Campbell, from Expana, stated that Brazil's soybean growers had purchased, as of late may, about 50% of their total fertilizer needs for 2026/27. Campbell noted that "in the past, over 60% of fertilizer is purchased by late May". Farmers with increasing debt will suffer from lower yields, lower profits and even outright losses if they reduce their fertilizer applications. Bruno Fonseca is an analyst at Rabobank Brazil. He said that the farmers of Brazil are "overleveraged". Expana's Campbell says that the price of fertilizer will remain high for at least six more months, even if a peace agreement is reached in the Middle East. Pereira, a Brazilian farmer, has to make tough decisions because of the grim future. He said, "We planned to replace our harvesters this year. They are very old." "We decided to not go ahead."
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French jet on NATO missions shoots down drones in Latvian airspace
On?Monday a French Rafale fighter shot down a drone which entered NATO member Latvia's?airspace from Russia, the latest of a series such security incidents in Europe's eastern border areas. The Latvian Army, without revealing who launched the drones, stated that it was "as a consequence of Russian electromagnetic warfare" that they entered from Russia. In a blog post on X the Latvian Prime Minister Andris Kulbergs praised "swift decisions and professional actions" in relation to this incident. A French army spokeswoman confirmed that French warplanes shot down an unknown?drone. An official from NATO said: "It shows NATO's ability to deter, defend and show its determination." Raivis Melnis, Latvian Defence Minister, told reporters that NATO took the final decision on whether to shoot down the drone. Latvia claimed that Russia was identified as using electronic warfare before the drone enter the country. The drone was shot down near the village Berzgale at 0705 GMT, about 30 km (18miles) from the border. Melnis reported that no one was injured and there was no damage to property. Melnis said that no one was injured and no property damage occurred. On Monday afternoon, a number of military vehicles were seen driving on rural roads in Berzekne as well as the surrounding villages looking for drone debris. Concerns about spillovers from the war in Ukraine have been stoked by military drones that are straying across NATO borders. On Monday, fragments of a Ukrainian-made drone were discovered in a Moldovan field after it entered the country from Ukraine. Chisinau blamed Russia for this incident because of their war with Ukraine. Margus Tsahkna, the Estonian foreign minister, said that incidents in Latvia or Moldova "confirmed that Russia's aggression against Ukraine is a threat outside Ukraine's borders." In May, an army official said that Latvia was increasing its anti-drone defenses. Ukraine has increased its long-range drone attack on Russia. This includes in the Baltic Sea region, where several Ukrainian military.drones have strayed.into the.airspace of Finland. Ukraine blamed Russia for the incidents, claiming that it was using electromagnetic warfare to disrupt the drone paths. The French jet that downed the drone on Sunday is part of NATO Baltic Air Police, which has been patrolling the skies over Latvia, Lithuania and Estonia since 2004 when they joined NATO. Currently, the?mission includes Romanian F-16 and Portuguese F-16 aircraft. A Romanian military plane on the Baltic Air Police Mission shot down an suspected Ukrainian drone in Estonia last month. (Additional reporting and editing by John Irish, Andrew Gray and Timothy Heritage.
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Italian study finds antibiotic resistance genes in the world's oceans
According to a?research project led by Italy that analyzed?seawater samples worldwide, the presence of genes?linked to resistance to antibiotics is present in multiple 'ocean basins including remote waters. The SeA Care project found antibiotic-resistance genes in the Mediterranean, Atlantic, Arctic and other regions, with higher concentrations detected near busy shipping routes and densely populated coastal areas. Researchers said that the results showed oceans as a global repository for pollution coming?from land. They also found genetic traces from antibiotic use and urban discharges far beyond their sources. Researchers added that this could facilitate their spread to remote communities. The study was presented Monday in Rome at a forum hosted by the National Health Institute of Italy (ISS) on ocean and human healthcare. It detected microplastics and traces containing?PFAS, "forever chemicals", and?SARS CoV-2 genetic material, even in remote areas and open ocean waters. Andrea Piccioli, ISS Director-General, said that protecting human health today inevitably meant taking care of seas and oceans. She added that pollutants released in the environment are distributed globally via water, food, and climate systems. SeA Care, an initiative led by Italy, links environmental health and human wellbeing. It brings together institutions such as ISS, 'the Italian Navy' and international research centers to create a global 'ocean monitoring /system. The project collects samples using existing scientific and naval networks during routine missions. This reduces costs?and the environmental impact. Over 140 sites in the Mediterranean, Atlantic and Pacific oceans, as well as the Arctic Ocean, were sampled during its first three-year period. Scientists claim that the project shows how oceans are a good early warning system of global health risks. It supports policies to combat pollution, climate changes and emerging threats. (Reporting and editing by Crispian B. Balmer, Emilio Parodi)
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Copper prices boosted by falling stocks at LME warehouses
Prices rose for copper on Monday as stocks in London Metal Exchange-approved warehouses fell. The market is now looking forward to the U.S.'s decision on tariffs at the end of June. Benchmark copper on the LME was 1.1% higher, at $13,665 per metric ton. Sources in the industry said that traders and funds continue to take copper from the LME into the U.S., before any import duties are imposed. This would increase shipping costs significantly. The U.S. has flagged that 15% levies could be applied to copper imports starting in 2027 and 30% beginning in 2028. Copper stocks, which stood at 376 775, have fallen 6% in the last month. Around 39% of cancelled warrants and metal earmarked to be delivered indicate that another 145.800 are due to leave the LME. The discount for the cash copper contract has also been reduced due to lower LME inventories. The traders also cited the strong interest in buying copper from Chinese companies, following Friday's 3% decline to one-week lows. Copper's upside is capped by the 21-day moving average, currently $13,730. Support on the downside comes in at the 50-day average, $13,260. Aluminium prices in other parts of the world are expected to remain stable due to limited supplies coming from Middle East – which houses?9% global capacity – as a result of the U.S. - Iran war and the closing of the Strait?of?Hormuz. Aluminium prices are expected to rise due to higher energy costs, which is a major component of the aluminium production process. Industrial metals have been under pressure due to concerns about growth caused by?high oil price and the conflict in Middle East. The base metals complex is also affected by a higher U.S. dollar, which makes metals priced in dollars more expensive for holders of other currencies. Aluminium increased 0.2% at $3,600 per ton. Zinc rose by 0.1% to 3,533, while lead fell 0.4% to 1,997. Tin dropped 1.5% to $52,125, and nickel declined 0.3% to 18,530. (Reporting by Pratima Dasai; Editing and re-reporting by Jan Harvey & David Holmes)
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Consumer prices in Chile rose less than expected, by 0.2%, in May.
?Consumer Prices in Chile rose by 0.2% from a month earlier, according to data released on Monday by the statistics agency INE. This was below the 0.4% predicted in a poll conducted among economists. Inflation slowed down in the month following a 1.3% rise recorded previously. Nine out of the 13 sectors studied recorded a price decline in the past month, with food and non-alcoholic drinks leading the way with a?decline of 0.8%. In a press release, INE said that "the price increases?in housing and basic service sectors as well as the increase in transport stood out." INE reported that the annual inflation rate in the largest copper-producing country in the world was 3.9% in the month of May. This is a slight decrease from the 4% registered in the previous months. The central bank set a target rate of 2% to 4% for the annual rate. In April, the institution kept borrowing?costs at 4.5% amid concerns over fuel?prices as well as uncertainty caused by?the extension of?the U.S. and Israeli war against Iran. Reporting by Aida Pea-Fernandez, Natalia Ramos and Emelia Sithole Matarise; editing by Aidan Lewis.
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Campbell's maintains annual target as US consumer spending remains tight
Campbell's Co, a packaged?food manufacturer, stuck to its annual forecast on Monday after months of trimming it. Demand for packaged?foods was impacted by consumer spending, which continued to be a factor. In recent months, consumer?sentiment? has reached record lows as rising gas prices tied to the Iran War have squeezed household finances already stretched by stubborn inflation. Pressure is pushing lower-income consumers to private-label and cheaper brands. This puts pressure on companies like Campbell's, which raised their prices in order to protect margins and offset rising tariff and commodity costs. Goldfish Cracker shares rose 1.5% on premarket trading after it exceeded quarterly profit expectations. According to LSEG, Campbell's adjusted earnings per share were 50 cents during the 'third quarter', beating analyst's average estimates of 48 cents. This was due to supply-chain improvements and the cost-saving program. The company has said that it has reached its target of saving $375 million in cost savings for FY28. CEO Mick Beekhuizen stated, "We are focused primarily on simplifying our business and accelerating productivity. We also want to reduce costs." However, its quarterly net sales fell 4%, to $2.37 Billion, slightly below the analysts' estimates. The packaged food industry is changing to adapt to a shift in consumer dietary preferences towards healthier foods. This trend has been accelerated by the rapid adoption of "weight-loss" drugs. Campbell's unit for meals and drinks saw quarterly sales fall 2% compared to an increase of 15% a year earlier. Its snack business saw a 7% decline, compared to an 8% drop a year ago. The company anticipates that organic net sales will fall between 1% to 2% in fiscal 2026, with adjusted profit per share ranging from $2.15 to 2.25. Campbell's will be removed from the S&P 500 index at the beginning of trading on Tuesday, June 22. Reporting by Neil J Kanatt, Bengaluru. Editing by Shilpa Majumdar
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Campbell's confirms its annual forecast due to weak consumer spending
Campbell's Co, a packaged foods manufacturer, stuck to its 'annual outlook' on Monday after months of trimming it, as the cautious U.S. consumers continued to 'weigh 'on demand. In recent months, consumer?sentiment has plummeted to record lows as the rising cost of gasoline linked to Iran's war squeezes household budgets that are already stretched by stubborn inflation. Lower-income consumers are increasingly turning to private-label and cheaper brands. This is putting pressure on companies like Campbell's, which have raised their prices in order to maintain margins and offset rising costs. LSEG data shows that Campbell's third-quarter net sales dropped 4%, to $2.37billion, compared to the analysts' average estimate of $2.38billion. It earned 50 cents a share on an adjusted basis. This was better than the estimated 48 cents a share. The supply-chain optimization program and cost-savings benefits helped. The packaged food?industry has also evolved to cope with the change in dietary preference towards healthier foods. This is accelerated by the rapid adoption of weight loss drugs. Sales at 'Campbells' meals and drinks unit dropped 2% in the third quarter, down from a 15% rise a year ago. Its snack business saw a 7% drop, compared to an 8% decrease a year ago. (Reporting by Neil J Kanatt in Bengaluru; Editing by Shilpa Majumdar) (Reporting and editing by Shilpi Mahumdar in Bengaluru)
Soccer-Spanish Copa del Rey matches held off due to floods in Valencia
The Spanish football federation (RFEF) held off 4 Copa del Rey matches on Wednesday after the worst flash floods in 3 years swept the eastern region of the country, eliminating at least 62 people.
The video games including clubs Valencia, Levante, Manises and Hercules de Alicante have been rescheduled after authorities recommended versus all non-essential travel in the region.
Valencia's match versus Parla Escuela in Madrid, which was arranged to start later Wednesday, will now be held on Nov. 6 while Levante's video game at Pontevedra will be played a day later on.
Thursday's fixtures were likewise impacted, with Ejea v Hercules de Alicante postponed by a week and Manises v Getafe now delayed to an unsure date.
Given the current situations, it is possible that other matches arranged for tomorrow, Thursday, may also experience modifications, the RFEF said in a statement.
The RFEF, in coordination with the numerous clubs, is working intensively to evaluate all possible scenarios and take appropriate measures.
Apart from Valencia, Getafe had actually also asked for the postponement when weather company AEMET stated a red alert in eastern Valencia as firemens saved a number of individuals caught in floodwaters due to storm Dana.
Valencia, who are bottom of the LaLiga standings, are set up to host Genuine Madrid on Saturday.
Numerous LaLiga clubs, consisting of Genuine Madrid and Barcelona, expressed their acknowledgements to the victims of the flood impacting the locations of Valencia, Albacete and Andalusia.
Barcelona wishes to reveal its compassion to the family members of the victims and our uniformity with the counties in Valencia and parts of Albacete and Andalusia impacted by the torrential rain, the Catalan club stated in a declaration.
LaLiga said in a declaration on Wednesday a minute of silence will be observed at all upcoming matches in the next 2 rounds.
LaLiga expresses its acknowledgements and those of all the clubs of Spanish football to the friends and families of the victims and the missing out on persons, it included.
Valencia made their stadium offered as a drop-off point for citizen contributions of food and essential products after the club partnered with Valencia Food Bank to assist those impacted.
Motorsports likewise faced the impact of the torrential rain, with Formula E testing being affected at the Ricardo Tormo Circuit - which is set to host the final race of the MotoGP season in 2 weeks.
Due to damage to the main gain access to roadway brought on by a burst river bank nearby, the circuit is presently unattainable by automobile, Solution E stated in a statement.
Alternative gain access to routes in and out of the circuit are presently being examined.
(source: Reuters)