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UniCredit says take-up in Commerzbank takeover bid at 7.6% of capital - Finance news and analysis from Global Banking & Finance Review
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UniCredit says take-up in Commerzbank takeover bid at 7.6% of capital

Published by Global Banking & Finance Review

Posted on June 2, 2026

1 min read

· Last updated: June 2, 2026

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UniCredit gets to 34% of Commerzbank as bid's take-up increases

UniCredit's Takeover Bid Progress and Market Response

UniCredit Reaches 34.35% Stake in Commerzbank

MILAN, June 2 (Reuters) - Italian bank UniCredit has reached a 34.35% direct stake in Commerzbank almost a month into its takeover bid for the German rival, a regulatory filing showed.

Investor Response to the Takeover Bid

Data UniCredit publishes weekly under German takeover rules showed investors had tendered Commerzbank shares representing 7.6% of the Frankfurt-based bank's capital as of Tuesday.

Background and UniCredit's Stated Intentions

UniCredit launched its bid on May 5 saying it did not aim for control but only wanted to nudge its 27% stake above 30%.

Reporting Credits

(Reporting by Valentina Za and Friedrike Heine: editing by Gianluca Semeraro and Gavin Jones)

Key Takeaways

  • The €35 billion voluntary exchange offer launched by UniCredit on May 5 is structured as 0.485 UniCredit shares per Commerzbank share, aiming to breach the 30% ownership threshold under German law (bloomberg.com).
  • Commerzbank’s board and supervisory committee have formally rejected the offer, citing insufficient premium, lack of credible strategic rationale, and potential risks to jobs and independence (commerzbank.de).
  • Germany’s federal government—holding over 12% of Commerzbank—alongside unions, opposes the takeover, emphasizing the bank’s strategic importance to SMEs and calling for preservation of its independence (theguardian.com).

References

Frequently Asked Questions

What percentage of Commerzbank shares were tendered in UniCredit's takeover bid?
Investors tendered shares representing 7.6% of Commerzbank's capital under UniCredit's takeover bid.
When did UniCredit announce the takeover bid update?
UniCredit announced the update in a regulatory filing on Tuesday, June 2.
Who reported the update on UniCredit's Commerzbank takeover bid?
The update was reported by Valentina Za, with editing by Gianluca Semeraro.

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