BPER added $530 million in cash to its original bid.

By Elena Vardon Italian lender BPER Banca topped up its offer for Banca Popolare di Sondrio by throwing in a cash component to value the smaller rival at around 5.47 billion euros ($6.43 billion).

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The updated offer comprises 1.450 newly issued BPER shares and an additional cash payment of €1 per Popolare di Sondrio share.