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

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

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

BMPS–Mediobanca: Offer Live, Market Still Says No

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

Event-Driven

<ul>
<li>BMPS raises terms to 2.533 BMPS shares plus €0.90 cash per Mediobanca share, waiving the two-thirds condition while retaining a 35% minimum—shifting sentiment to a modest, positive convergence setup.</li>
<li>Timeline tight: board review this week; acceptance deadline 8 September; results and settlement mid-September unless terms change, which could trigger re-opening and push closing toward late September or early October.</li>
<li>Best expression remains long Mediobanca, short 2.533× BMPS per share; a 1% BMPS move shifts implied consideration ~€0.19 (≈1% of MB), so maintain a disciplined hedge into catalysts and headlines.</li>
</ul>


BMPS raises terms to 2.533 BMPS shares plus €0.90 cash per Mediobanca share, waiving the two-thirds condition while retaining a 35% minimum—shifting sentiment to a modest, positive convergence setup.
Timeline tight: board review this week; acceptance deadline 8 September; results and settlement mid-September unless terms change, which could trigger re-opening and push closing toward late September or early October.
Best expression remains long Mediobanca, short 2.533× BMPS per share; a 1% BMPS move shifts implied consideration ~€0.19 (≈1% of MB), so maintain a disciplined hedge into catalysts and headlines.


BMPS–Mediobanca: Sweetener + Waiver Tighten the Spread

Mediobanca SpA

BMPS–Mediobanca: Sweetener + Waiver Tighten the Spread