UniCredit's takeover offer for Commerzbank reaches final deadline

Italian bank UniCredit's proposal to acquire German lender Commerzbank concluded its second acceptance period on 8 July 2026. The bid offers 0.485 UniCredit shares for each Commerzbank share and contains no cash component, making its value dependent on both banks' share prices. At the time the offer documents were filed, the calculated offer value was about €31.07 per Commerzbank share, notably below the market price of roughly €37.72 at the close of the final deadline. Independent shareholders participated only marginally, with roughly one percent of non‑institutional owners accepting the exchange. UniCredit, combining its existing stake with the newly acquired shares, expects to hold between 38 % and 41 % of Commerzbank, but full control will require further regulatory approvals, with completion projected for 2027, no later than 2 July 2027. The deadline was highlighted in market calendars as a key event for European banking investors.