Morningstar

UniCredit Rejects Commerzbank's Claims of Unusual Tender Behavior

Provided by Dow Jones

By Aimee Look 




  UniCredit on Monday rejected Commerzbank's claims over unusual tender behavior on its bid for the German bank. 



  Last week, Commerzbank said it had seen abnormal tender behavior connected to UniCredit's offer. After UniCredit disclosed a 10.95% acceptance level of its proposal, the German bank said it hadn't identified any institutional investor tendering shares into the offer. Commerzbank added that tendered shares are almost exclusively from entities connected to UniCredit. 



  The Italian lender on Monday rejected suggestions made that the actual number of tendered shares is lower due to borrowing mechanisms. 



  "Tendered shares are tendered shares and irrevocably committed," the bank said. 



  UniCredit also said sufficient shareholder support at the Annual General Meeting would position it to appoint all shareholder representatives on the Supervisory Board. 





  Write to Aimee Look at aimee.look@wsj.com 





  Corrections & Amplifications



  This article was corrected on June 16, 2026 to clarify that UniCredit on Monday rejected Commerzbank's claims over unusual tender behavior. An earlier article incorrectly said UniCredit's comments were made on the final day of its bid for the German bank. 



  (END) Dow Jones Newswires



  June 15, 2026 03:11 ET (07:11 GMT)


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