- UniCredit publishes offer document on unchanged terms: 0.485 UniCredit shares per Commerzbank share, equivalent to approximately €31.07 per share based on UniCredit’s closing price of €64.06 as of 4 May 2026
- Implied offer price represents a discount of 8.7% to the prior day's closing price of Commerzbank of €34.02
- Commerzbank’s Board of Managing Directors and Supervisory Board will review the offer document and publish their reasoned opinion pursuant to Section 27 of the German Securities Acquisition and Takeover Act (WpÜG)
- Commerzbank will present quarterly results and strategy update through 2030 on 8 May 2026
Commerzbank AG takes note of the offer document published today by UniCredit S.p.A. as part of its unsolicited takeover offer.
The offer reflects the terms announced on 16 March 2026: UniCredit is offering 0.485 new UniCredit shares per Commerzbank share, which, based on UniCredit’s closing price of €64.06 as of 4 May 2026, the day prior to publication of the offer document, corresponds to a price of approximately €31.07. The implied offer price thus represents a discount of 8.7% to the prior day’s closing price of Commerzbank shares of €34.02.
The Board of Managing Directors and the Supervisory Board of Commerzbank will carefully review the offer document and publish their reasoned opinion pursuant to Section 27 of the German Securities Acquisition and Takeover Act (WpÜG) within the statutory deadline.
On 8 May, Commerzbank will present its quarterly results alongside a strategy update including updated financial targets through 2030.
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Offer document of UniCredit S.p.A.:
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