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

