Fifth Third Bancorp Announces Acquisition of Comerica: Creating the 9th Largest U.S. Bank

Fifth Third Bancorp Announces Acquisition of Comerica: Creating the 9th Largest U.S. Bank

Fifth Third Bancorp, based in Cincinnati, has announced its acquisition of Comerica in an all-stock transaction valued at $10.9 billion. This merger will result in the formation of the 9th largest U.S. bank, boasting assets totaling around $288 billion. Under the terms of the deal, Comerica shareholders will receive 1.8663 shares of Fifth Third for each share they currently hold, equivalent to $82.88 per share based on Fifth Third's closing stock price on Friday. Following the merger, Fifth Third shareholders will hold a 73% stake in the combined entity, while Comerica shareholders will own approximately 27% of the new company. Additionally, three members of Comerica's board will transition to Fifth Third's board upon the completion of the acquisition. The deal is anticipated to be finalized by the end of the first quarter of 2026, pending approval from both companies' shareholders.