Big Banks: Fifth Third Acquires Comerica
Fifth Third (Nasdaq: FITB) will acquire Comerica (NYSE: CMA), according to a public statement. The deal will create the ninth-largest US bank, with approximately 10.9 billion in an all-stock transaction, representing around $82.88 per share as of Fifth Third’s closing stock price on October 3.Tim Spence, Chairman, CEO, and President of Fifth Third Bank, called the acquisition a pivotal moment ...