uncertainties surrounding bnp’s insane ambition resulted in a drop of its share price, reducing the combined value of the offers for paribas and socgen to usd $38.0-billion. for months, all three banks engaged in a public relations battle in an attempt to win support from the public, shareholders, and the french banking regulator. in the end, bnp succeeded in breaking socgen and paribas' merger plan, and acquired paribas to form bnp paribas. however, it could only secure 31.5% of socgen's shares. the french banking regulator eventually vetoed bnp's merger plan to acquire societe generale.