Reported 1 day ago
Fifth Third Bank announced a $10.9 billion all-stock deal to acquire Comerica, aiming to become the ninth-largest bank in the U.S. with approximately $288 billion in assets. This acquisition comes amid a resurgence of bank mergers following a period of stagnation, as regional banks look to enhance competitiveness against major players like Bank of America and JPMorgan Chase. Additionally, this move aligns with Fifth Third's strategy to expand its presence in the Southeast, targeting major metropolitan areas.
Source: YAHOO