Fifth Third Bank, Comerica Shareholders Vote To Approve Proposed Merger

Add as your preferred news source on Google Add Now Fifth Third Bancorp (FITB) and Comerica Inc. (CMA) Wednesday said that their respective shareholders have voted separately to approve the earlier announced merger of both companies. The transaction is expected to close in the first quarter of this year, pertaining to the approval of the remaining customary closing conditions.Commenting on the developments, Tim Spence, Chairman, CEO and President of Fifth Third, said, "Today's favorable shareholder vote with 99.7 percent of votes cast in favor of our combination with Comerica marks an important milestone in our journey, By combining Fifth Third's award-winning retail and digital capabilities with Comerica's middle market banking franchise, we'll create a more dynamic, resilient institution with the scale and capabilities to deliver exceptional value for our customers, communities, and shareholders. Together we'll form the ninth largest US bank with $290 billion in assets and a footprint spanning 17 of the 20 fastest-growing large markets in the U.S."In October 2025, Fifth Third Bancorp and Comerica had announced an agreement under which Fifth Third will acquire the Texas-based financial services company in an all-stock deal valued at $10.9 billion.As per the deal, Comerica shareholders will receive 1.8663 Fifth Third shares for each Comerica share, valuing each Comerica share at $82.88 based on Fifth Third's closing price on October 3, 2025. The purchase price represents a 20 percent premium to Comerica's 10-day average stock price and upon closing, Fifth Third shareholders will hold roughly 73% and Comerica shareholders about 27% of the combined company.On the NASDAQ, FITB ended Tuesday's trading at $49.78, up $1.16 or 2.4 percent. In the after hours trading, the stock was up $0.20 or 0.40 percent at $49.98. On the NYSE, CMA ended Tuesday's trading at $92.45, up $2.13 or 2.4 percent. In the after-hrs, the stock fell $0.45 or 0.49 percent to $92.00. For comments and feedback contact: editorial@rttnews.comBusiness News