UniCredit announced that Italy's market regulator Consob has given the green light to the share offer document for its 14 billion euro all-share bid to acquire Banco BPM. This approval is the final step needed to proceed with the tender offer. The offer is scheduled to take place from April 28 to June 23, as confirmed by Italy's second-largest bank. UniCredit's bid involves exchanging 0.175 newly-issued shares for each Banco BPM share. The takeover bid for Banco BPM is part of a series of aggressive acquisition attempts in the Italian banking sector, which has seen substantial recovery and record profits following the challenges faced during the years of the 2008-2012 financial crisis.