Germany has formally rejected UniCredit’s takeover offer for Commerzbank, arguing that the bid undervalues the German lender and fails to provide an adequate premium for shareholders. The German government, which still owns a 12% stake in Commerzbank following the 2008 financial crisis, reaffirmed its opposition to the proposed merger and expressed concerns over
Commerzbank announced plans to cut 3,000 jobs and raise its long-term profit targets as it fights to remain independent amid a takeover attempt by Italy’s UniCredit. The German bank said the restructuring would strengthen revenue and profitability by 2028, while criticizing UniCredit’s €37 billion takeover proposal as unclear and risky. Commerzbank also expects around €450
Commerzbank and Deutsche Bank have abandoned the merger talks. They said that the deal could not be approved since it appeared to be too risky. The banks unanimously said that the deal would not have generated “sufficient benefits” to offset the costs of the deal. Two biggest listed lenders of Germany had said there were […]


