Reported 3 days ago
Fifth Third Bancorp is set to acquire Comerica for $10.9 billion in an all-stock transaction, establishing the ninth-largest bank in the U.S. with about $288 billion in assets. The merger will expand Fifth Third's presence in high-growth regions, particularly in the Southeast and Texas, creating a more robust operation in the Midwest. Shareholders of Comerica will exchange their shares for Fifth Third stock, resulting in 73% ownership for Fifth Third's shareholders in the new entity, which is expected to finalize by the end of Q1 2026, pending shareholder approval.
Source: YAHOO