Fifth Third Bancorp to Acquire Comerica in $10.9 Billion All-Stock Deal, Creating Ninth-Largest U.S. Bank
Cincinnati, OH and Dallas, TX — Fifth Third Bancorp (NASDAQ: FITB) announced Monday its definitive agreement to acquire Dallas-based Comerica Inc. (NYSE: CMA) in an all-stock transaction valued at approximately $10.9 billion. This strategic merger is set to create the ninth-largest U.S. bank, commanding an impressive asset base of roughly $288 billion.
Transaction Details and Shareholder Structure
Under the terms of the agreement, Comerica stockholders will receive 1.8663 shares of Fifth Third common stock for each share of Comerica stock they own. Based on Fifth Third’s closing stock price on Friday, this exchange ratio valued each Comerica share at $82.88. Upon completion of the acquisition, Fifth Third shareholders are projected to own approximately 73% of the combined entity, while Comerica shareholders will hold the remaining 27%.
Enhanced Market Presence and Governance
The unified institution will boast a significant presence across key U.S. markets, enhancing its competitive standing within the regional banking sector. To ensure a smooth integration and continuity in governance, three members from Comerica’s current board of directors will join Fifth Third’s board once the transaction is finalized.
Anticipated Closure and Strategic Implications
The acquisition, which underscores a period of consolidation within the financial industry, is subject to customary closing conditions, including approvals from both Fifth Third and Comerica shareholders, as well as regulatory bodies. Both companies anticipate the deal to close by the end of the first quarter of 2026. This merger represents a substantial move for both regional banking giants, aiming to leverage combined strengths for enhanced market reach and operational efficiencies.
By Michelle Chapman, The Associated Press
