Commerzbank said a small portion of its institutional investors have accepted UniCredit's takeover offer, after previously saying that no institutional investors were identified tendering shares.
The German bank in a release said that institutional investors have tendered 1.29% of Commerzbank shares. In addition, it disclosed that banks have tendered 11.17% of shares and retail investors tendered 0.05%.
The total volume of tendered shares in Commerzbank is 12.51%, which is consistent with UniCredit's disclosure last week---coming after the close of its initial offer period.
On June 10, Commerzbank said it was not able to identify a single institutional investor that had tendered shares.
Chief Executive Bettina Orlopp also said earlier this month institutional investors don't like the offer because it is at a discount.
Write to Aimee Look at aimee.look@wsj.com
(END) Dow Jones Newswires
June 25, 2026 04:09 ET (08:09 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments