UniCredit tender acceptances for Commerzbank hit 7.85%
Commerzbank reports that 7.85% of its capital has been tendered in UniCredit's 40 billion euro takeover bid. CEO Bettina Orlopp argues the offer remains undervalued as shares continue to trade above the bid price on the open market.
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COMMERZBANK AG announced on Friday, June 5, that investors have tendered 7.85% of its capital under a €40 billion takeover bid from UNICREDIT SPA. This total follows a June 2 disclosure from the Milanese lender claiming it reached a 7.6% take-up. Reaching this 30% ownership threshold would allow UniCredit to facilitate open-market share purchases in Germany.
