Paschi, BPM Advisers Working on Merger to Foil Intesa’s Bid

Advisers for Banca Monte dei Paschi di Siena SpA and Banco BPM SpA are in talks over a possible merger that would include a cash component, according to people familiar with the matter, in a potential deal that would effectively thwart a €35 billion ($40 billion) takeover offer for Monte Paschi from