Commerzbank CEO notes UniCredit offer lacks premium
CEO Bettina Orlopp called UniCredit's lack of a premium unusual but confirmed Commerzbank will examine the bid. The bank remains open to further discussions.
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COMMERZBANK AG CEO Bettina Orlopp called UNICREDIT SPA's takeover offer unusual on Tuesday for failing to include a price premium. The bid follows the Italian lender's move to increase its stake in the Germany-based bank beyond 30%. Investors face a choice between immediate control transfer and potential upside without the standard compensation for giving up shares.
