CINCINNATI — Fifth Third Bancorp announced it will acquire Comerica Incorporated, creating the ninth-largest U.S. bank.
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Fifth Third purchased Comerica for $10.9 billion in an all-stock deal.
By 2030, it is expected that over half of Fifth Third’s branches will be located in the Southeast, Texas, Arizona, and California
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Comerica’s stockholders will receive 1.8663 Fifth Third shares for each share they own.
This represents $82.88 per share as of Fifth Third’s closing stock price on Friday.
Fifth Third shareholders will own about 73% of the combined company, while Comerica shareholders will own approximately 27%.
The deal is expected to close at the end of the first quarter of 2026.
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