Commerzbank Says UniCredit Offer Lacks Necessary Basis for Talks
By Adria Calatayud
Commerzbank said UniCredit didn't coordinate with it to launch an unsolicited takeover attempt and that the communication from the Italian bank lacks key information that would be a necessary basis for potential talks.
"We are convinced of the strength and potential of our strategy, which focuses on independence and profitable growth," Commerzbank Chief Executive Bettina Orlopp said. "This move is not coordinated with us. The exchange ratio expected in the announcement does in fact not include a premium for our shareholders."
UniCredit earlier on Monday said it would launch an offer for the shares of Commerzbank it doesn't already own that could value the German bank as a whole at 34.7 billion euros ($39.62 billion), or 30.80 euros a Commerzbank share, but that it didn't expect to gain control. The offer aims to increase UniCredit's Commerzbank stake above 30% and to pave the way for a dialogue between the two banks, UniCredit said.
Commerzbank said the communication from UniCredit doesn't include any further information regarding key terms of a value-creating transaction, and that this would be a necessary basis for potential discussions.
The German bank said its management and supervisory boards would examine the offer once it is published.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
March 16, 2026 07:54 ET (11:54 GMT)
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