Germany Rejects UniCredit’s Takeover Bid for Commerzbank

Germany’s government dismissed a potential hostile takeover of Commerzbank AG by UniCredit SpA as “unacceptable” after the Italian lender made a €35 billion ($40 billion) bid for the Frankfurt-based bank.

Chancellor Friedrich Merz said the Italian offer was first and foremost a matter for the two lenders, but reinforced his government’s stance that Frankfurt-based Commerzbank should remain an independent entity.