European Investor
06 Oct 2025, 15:13
Fifth Third Bancorp announced it will acquire Comerica Incorporated in an all-stock transaction valued at $10.9 billion.
Comerica shareholders will receive 1.8663 Fifth Third shares per Comerica share, valuing Comerica at $82.88 per share and representing a 20% premium to its recent average price. After the merger, Fifth Third shareholders will own about 73% of the combined company and Comerica shareholders 27%.
The merger will create the 9th-largest U.S. bank, with $288 billion in assets, expanding Fifth Third’s presence in high-growth regions such as Texas, California, and the Southeast. The deal is expected to be immediately accretive, improving efficiency and returns while combining Fifth Third’s retail and digital strength with Comerica’s commercial banking base.
Comerica CEO Curt Farmer will become Vice Chair of Fifth Third, and three Comerica board members will join the Fifth Third board. The merger is expected to close by Q1 2026, subject to shareholder and regulatory approvals.
Comerica shareholders will receive 1.8663 Fifth Third shares per Comerica share, valuing Comerica at $82.88 per share and representing a 20% premium to its recent average price. After the merger, Fifth Third shareholders will own about 73% of the combined company and Comerica shareholders 27%.
The merger will create the 9th-largest U.S. bank, with $288 billion in assets, expanding Fifth Third’s presence in high-growth regions such as Texas, California, and the Southeast. The deal is expected to be immediately accretive, improving efficiency and returns while combining Fifth Third’s retail and digital strength with Comerica’s commercial banking base.
Comerica CEO Curt Farmer will become Vice Chair of Fifth Third, and three Comerica board members will join the Fifth Third board. The merger is expected to close by Q1 2026, subject to shareholder and regulatory approvals.
