European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

BMPS–Mediobanca: 86.3% Tendered — What Changes Now?

Mediobanca’s Failed Banca Generali Bid and Implications for BMPS’ Hostile Offer

BMPS–Mediobanca: Control Secured; Re-Open Week Sets the Next Leg

BMPS–Mediobanca: Sweetener + Waiver Tighten the Spread

Event-Driven

<ul>
<li>BMPS has 70.5% of Mediobanca after re-open progress (Reuters, 19 Sep). Window closes 22 Sep; settlement 29 Sep. Gross spread ~1.03% on 19 Sep close; convergence momentum and governance transition.</li>
<li>Super-Majority enables extraordinary resolutions; merger remains subject to ECB/SSM, Bank of Italy, and corporate approvals. Expect modest final-day tenders; MB to hug offer formula, with delta ≈2.533 to BMPS.</li>
<li>Trade: convergence hold into final results/29 Sep settlement; maintain tight 2.533 hedge and pre-set rebalance triggers. Directional BMPS bias constructive on lighter dilution/cash; monitor messaging, basis, and any on-market adds.</li>
</ul>


BMPS has 70.5% of Mediobanca after re-open progress (Reuters, 19 Sep). Window closes 22 Sep; settlement 29 Sep. Gross spread ~1.03% on 19 Sep close; convergence momentum and governance transition.
Super-Majority enables extraordinary resolutions; merger remains subject to ECB/SSM, Bank of Italy, and corporate approvals. Expect modest final-day tenders; MB to hug offer formula, with delta ≈2.533 to BMPS.
Trade: convergence hold into final results/29 Sep settlement; maintain tight 2.533 hedge and pre-set rebalance triggers. Directional BMPS bias constructive on lighter dilution/cash; monitor messaging, basis, and any on-market adds.


BMPS–Mediobanca: Super-Majority Secured; Final Day Setup

Mediobanca SpA

BMPS–Mediobanca: Super-Majority Secured; Final Day Setup