Banca Monte dei Paschi di Siena said it got authorization from the Italian government to go through with its takeover of peer Mediobanca as some of its top shareholders indicated that they would support the board in its bid.

The Italian lender launched a surprise $14 billion-takeover offer for its peer in January, with the aim to form a national diversified group by combining Mediobanca’s investment-banking heft and wealth-management business with its strength in retail banking.