Last mentioned: Mar 18, 2026
Stalemate Declaration
CEO Andrea Orcel states the bid is a strategic move to end the impasse.
Market Response
Anticipated reaction from German regulators and Commerzbank's board of directors.
Rejection
Commerzbank board officially rejects the unsolicited exchange offer.
Takeover Bid Announced
UniCredit officially launches its €35 billion bid for Commerzbank AG.
Strategic Clarification
Bloomberg reports the bid is aimed at crossing the 30% ownership threshold rather than immediate full control.
Takeover Bid Launched
UniCredit launches a €35 billion bid to cross the 30% ownership threshold.
Initial Pursuit
UniCredit begins building a strategic position in Commerzbank.
UniCredit CEO Andrea Orcel has pivoted to a more aggressive stance in his pursuit of Commerzbank, framing a formal €35 billion takeover bid as a necessary move to force negotiations. After 18 months of strategic maneuvering, the move seeks to overcome political and corporate resistance to a cross-border European banking merger.
UniCredit SpA has launched a €35 billion ($40 billion) takeover bid for Germany’s Commerzbank AG, a move designed to bypass regulatory hurdles and increase its stake beyond 30%. While the Italian lender does not expect to gain full control immediately, the bid represents a major step toward a cross-border European banking merger.