Commerzbank Rejects UniCredit’s €39bn Bid, Escalating Europe’s Most Contentious Banking Takeover Fight

Commerzbank’s board urged shareholders to reject UniCredit’s unsolicited share-exchange bid.

The bank said the offer undervalues Commerzbank, lacks an adequate premium, and carries major operational, geopolitical, and job risks.

The €39 billion deal has become a politically charged test of cross-border banking consolidation in Europe.

The outcome could shape jobs, financial stability, and control of one of Germany’s biggest lenders.