
Fifth Third Bancorp acquires Comerica in all-stock deal

Diversified financial services company Fifth Third Bancorp has agreed to acquire fellow regional bank Comerica for US$10.9 billion (A$16.5 billion) in an all-stock deal that will create the ninth-largest United States bank with assets of $288 billion. Under the terms of the deal – which is expected to finalise in the first quarter of 2026 - Comerica stockholders will receive 1.8663 Fifth Third shares for each Comerica share they own. The transaction’s value stems from Fifth Third’s closing price from Friday of $82.88, which is a 20% premium to Comerica’s 10-day volume-weighted average stock price. When the deal closes, Fifth Third shareholders will own around 73% of the combined company, while Comerica investors will hold 27%. “Joining with Fifth Third – with its strengths in retail, payments and digital – allows us to build on our leading commercial franchise and further serve our customers with enhanced capabilities across more markets,” noted Comerica CEO Curt Farmer. Fifth Third CEO Tim Spence described the tie-up as a pivotal moment that accelerated the bank’s plans to build density in high-growth markets and deepen its commercial capabilities. “The things that have defined Fifth Third over the course of t