UniCredit launches takeover bid for Commerzbank. Italy's UniCredit announced a voluntary public offer to acquire more than 30% of German bank Commerzbank, which it already holds 26% equity stake in plus 4% through total return swaps. The move aims to cross Germany's mandatory takeover threshold without reaching full control. UniCredit will offer 0.485 of its own shares per Commerzbank share, valuing the German lender at approximately 30.8 euros per share, representing a 4% premium to the closing price from March 13. German market authorities will determine final offer terms. The bid seeks to overcome the 30% cliff-edge requirement under German takeover law while enabling constructive discussions with Commerzbank stakeholders regarding the transaction's future direction and terms.
