Comerica Shareholders Back $10.9 Billion Merger Deal With Fifth Third Bancorp

• The merger is expected to close in the first quarter of 2026.
• The merger will result in the formation of the ninth largest American bank that will have about $290 billion in assets, according to the company. 
• The final entity will have a footprint that will cover 17 of the 20 fastest-growing large markets in the U.S.

Comerica Inc. (CMA) has received shareholder approval for its $10.9 billion sale to Fifth Third Bancorp (FITB).

97% of Comerica shareholders voted for the deal while over 99% of Fifth Third Bancorp shareholders gave the go-ahead for the merger, according to a statement.

The shareholders reportedly ignored activist hedge fund HoldCo Asset Management’s call to halt the deal after it had initially urged the bank to sell, according to a report from Reuters.

Shares of CMA rose over 2.5% on Tuesday while shares of FITB climbed over 2.4%.

Deal Contours

The merger is expected to close in the first quarter of 2026, as per the statement from the company. The merger will result in the formation of the ninth largest American bank that will have about $290 billion in assets, according to the company. It will also have a footprint that will cover 17 of the 20 fastest-growing large markets in the U.S.

“We are pleased our stockholders have overwhelmingly approved this important step forward,” said Curt Farmer, Chairman, President and CEO of Comerica. “We believe that this merger of two long-standing institutions will create new opportunities to drive innovation, foster deeper relationships, and deliver stronger support for the customers and communities we proudly serve. Together, we are well positioned to grow, invest and compete more effectively for the long term.”

“By combining Fifth Third’s award-winning retail and digital capabilities with Comerica’s middle market banking franchise, we’ll create a more dynamic, resilient institution with the scale and capabilities to deliver exceptional value for our customers, communities, and shareholders,” said Tim Spence, Chairman, CEO and President of Fifth Third.

HoldCo said that Comerica is rushing the sale to avoid a potential proxy fight and to protect the CEO from being dismissed rather than in shareholders’ interest, as per Reuters.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around CMA shares jumped to ‘bullish’ from ‘neutral’ territory over 24 hours amid ‘high’ message volume.

Meanwhile, retail sentiment around FITB shares also jumped to ‘bullish’ from ‘neutral’ territory over 24 hours amid ‘high’ message volume.

Shares of CMA climbed over 46% in the past year while shares of FITB have gained nearly 16% in the same period.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Also Read: CRML Shares In Spotlight After Surging Over 251% In Six Months — Why Is Retail Still Bullish?
 

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