US EditionCommerzbank Sees No Basis for a Value-Accretive Transaction with UniCredit (CRZBY:OTCMKTS)
12 Articles
12 Articles
It is not an attempt at a hostile takeover, the Italian bank Unicredit emphasized when it announced a bid for the German Commerzbank last month.
In the takeover dispute between Commerzbank and UniCredit, there is no solution in sight. A friendly solution is not recognizable, says the Dax Group. The Italians' approach makes it difficult to build confidence.
In an official statement, the bank rejects the offer of Italians. A takeover is not valuable – and the conduct of Unicredit does not give rise to confidence.
Commerzbank Rejects UniCredit’s Takeover Proposal
Commerzbank (CBKG.DE) has announced its rejection of UniCredit’s (CRDI.MI) takeover proposal, stating that the offer does not present sufficient value upside potential for its shareholders. This marks the latest development in the German bank’s efforts to resist the Italian suitor’s attempts to negotiate a deal. Commerzbank also indicated that UniCredit was unwilling to offer its shareholders an adequate premium. Commerzbank is a major German ba…
Commerzbank on Tuesday gave another strong response to UniCredit's takeover bid, saying the Italian lender did not offer shareholders sufficient value growth potential and was unwilling to pay them a fair premium, Reuters reports.
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