Comerica Stock Jumps on $10.9 Billion Takeover by Fifth Third Bancorp
1. Fifth Third Bancorp to acquire Comerica for $10.9 billion in stock. 2. Comerica shareholders will receive a 17.5% premium at $82.88 per share. 3. Acquisition will create the ninth-largest U.S. bank with $288 billion assets. 4. Fifth Third’s strategy aims to expand into high-growth markets. 5. Merger expected to close by the end of Q1 next year.