Fifth Third Bancorp is buying Comerica for $10.9 billion in tie-up of regional banks

Fifth Third Bancorp is buying Comerica in an all-stock deal valued at billion The buyout will create the th largest U S bank with approximately billion in assets the companies revealed Monday Comerica s stockholders will receive Fifth Third shares for each share they own This representing per share as of Fifth Third s closing stock price on Friday Fifth Third shareholders will own about of the combined company while Comerica shareholders will own approximately Three members of Comerica s board will join Fifth Third s board once the deal is complete The deal is expected to close at the end of the first quarter of It still requirements the approval of both companies shareholders Source