Commerzbank: UniCredit OPA acceptance rate at 12.41% on the final day of the first phase

The final figures will be announced on Friday

Take-up of UniCredit’s public offer for Commerzbank rose by half a percentage point on the final day of the offer, ahead of the two-week ‘extended period’ provided for under German law. According to the latest update, the shares tendered represent 12.41% of the share capital (up from 11.91% yesterday) and 12.95% of the voting rights, taking into account the German bank’s own shares (up from 12.42%). Other exposures remain unchanged: in addition to the 26.77% already held (27.93% of voting rights), there is 3.22% (3.36% of voting rights) via a physically settled derivative and 13.19% (13.76% of voting rights) linked to derivatives settled solely in cash. The total potential stake therefore amounts to 55.59% of the share capital (58% of voting rights). Counting only the physical shares held and the acceptances of the public offer, the stake is 39.18%; adding the physically settled derivative brings it to 42.4%. UniCredit’s objective was to exceed 30% of Commerzbank’s share capital. The final figures, which will include acceptances received between now and midnight tonight, will be announced on Friday. The offer period will then be reopened for two weeks.

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