Reported 3 days ago
Comerica's shares jumped 14% after Fifth Third Bancorp announced its intention to acquire the financial institution for $10.9 billion in an all-stock deal. Comerica shareholders will receive approximately $82.88 per share, reflecting a 17.5% premium compared to the prior closing price. This merger is part of Fifth Third's strategy to expand in key markets, aiming to create the ninth-largest bank in the U.S. and enhance its commercial operations.
Source: YAHOO