Italian bank UniCredit is making a renewed attempt to acquire Commerzbank, the second-largest publicly listed bank in Germany, despite facing political opposition in Berlin. Their latest offer proposes that Commerzbank shareholders receive 0.485 new shares of UniCredit for each of their shares, equating to a price of €30.80 per Commerzbank share, which features a 4% premium compared to the closing share price last Friday. UniCredit values Commerzbank at approximately €35 billion.

The decision regarding this acquisition will be made during an extraordinary general meeting scheduled for May 4. The announcement of the offer has already resulted in a 3.9% increase in the value of Commerzbank’s shares, reflecting investor optimism around the negotiations. UniCredit's statement emphasizes the urgency of dialogue with Commerzbank, signaling a commitment to surpass the 30% threshold set by German takeover regulations and to encourage constructive discussions between the two financial institutions.

The implications of this acquisition are significant for both companies, as UniCredit aims to strengthen its footprint in the European banking sector while Commerzbank navigates its position amidst political and market pressures. This move also highlights the broader trend of consolidation within the banking industry in Europe, as financial institutions seek to enhance their competitiveness in a challenging economic landscape.