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FRANKFURT - Commerzbank stated Monday that recent interactions with UniCredit have not demonstrated sufficient value for its shareholders beyond its standalone strategy, according to a press release statement.
The German bank said UniCredit showed no willingness to offer shareholders an adequate premium and that an agreed solution is currently not evident. Commerzbank disputed UniCredit’s April 3 publications, particularly the assertion that it refused to engage constructively on a value-creating transaction.
Several interactions took place with UniCredit in recent weeks to explore the takeover offer announced by the Italian bank. Commerzbank said there has been regular dialogue with UniCredit as a shareholder over the past 18 months, during which UniCredit did not raise specific requests regarding Commerzbank’s business model or potential cooperation areas.
The cornerstones of a transaction outlined verbally by UniCredit do not show sufficient value creation potential beyond Commerzbank’s current strategy and planning horizon, the bank stated. A significant part of the potential outlined by UniCredit can be realized by Commerzbank independently without the execution risks associated with a transaction, according to the statement.
UniCredit confirmed in interactions that it sees no room for a market-standard premium or improvement of the terms of its public takeover offer announced on March 16, 2026.
Commerzbank will focus on implementing its Momentum strategy and plans to announce increased financial targets with its quarterly results on May 8, 2026. The bank previously indicated in February that it sees additional upside beyond targets originally set for 2028.
Commerzbank remains open to discussions and proposals that create concrete value for its shareholders and stakeholders, the bank said.
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