Commerzbank: subscriptions for the first phase of the UniCredit public offer closed at 12.51 per cent

The offer is now open again from 20 June to 3 July

The first phase of UniCredit’s takeover bid for Commerzbank closed with a take-up rate of 12.51 per cent of the share capital. This is the final figure as at midnight last Tuesday (at midday it stood at 12.41 per cent), equivalent to 13.05 per cent of voting rights when taking into account the German bank’s treasury shares (previously 12.95 per cent). The other exposures remain unchanged: in addition to the 26.77% already held (27.93% of voting rights), there is a 3.22% stake (3.36% of voting rights) via a physically settled derivative and a 13.19% stake (13.76% of voting rights) linked to derivatives settled solely in cash. The total potential stake therefore amounts to 55.69% of the share capital (58.1% of voting rights). Counting only the physical shares held and acceptances of the public offer, the stake stands at 39.28%; adding the physically settled derivative brings this to 42.5%. UniCredit’s objective was to exceed 30% of Commerzbank’s share capital. The supplementary acceptance period for the offer, which remains subject to approval by the relevant authorities, will open on 20 June and close on 3 July.

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