Fifth Third to Acquire Comerica in $10.9B Deal

Cheddar News

Fifth Third Bancorp announced it will acquire Comerica in a $10.9 billion all-stock deal, creating the ninth-largest U.S. bank with $288 billion in assets.

Transcript

00:00Fifth Third Bank Corp. announced it will acquire Comerica in a $10.9 billion all-stock

00:06deal, creating the ninth largest U.S. bank with $288 billion in assets.

00:12The merger is expected to close early 2026 and expand Fifth Third's presence in high-growth

00:18markets like Texas and California.

00:20CEO Tim Spence emphasized the deal combines Comerica's commercial strength with Fifth

00:25Third's track record of stability and growth.

00:28Comerica shares jumped 15 percent after the news, while Fifth Third's shares dipped slightly.

Category

Transcript

Be the first to comment

Recommended