Company: FITBI
Filing Date: 2025-10-06
Form Type: 425
Source: 0001193125-25-230874
Chunk: 8

Company: FIFTH THIRD BANCORP
Filing Date: 2025-10-06
Form: 425
Chunk 8
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daq: FITB) and Comerica Incorporated (NYSE: CMA) today announced that they have entered into a definitive
merger agreement under which Fifth Third will acquire Comerica in an all-stock transaction valued at $10.9 billion. Under the terms of the agreement, Comerica’s stockholders will receive 1.8663
Fifth Third shares for each Comerica share, representing $82.88 per share as of Fifth Third’s closing stock price on October 3, 2025, and a 20% premium to Comerica’s 10-day volume-weighted
average stock price. At close, Fifth Third shareholders will own approximately 73% and Comerica shareholders will own approximately 27% of the combined company.

This transaction brings together two long-tenured banking franchises to create the 9 largest U.S. bank
with approximately $288 billion in assets. The combination is expected to be immediately accretive to shareholders; deliver peer-leading efficiency, return on assets and return on tangible common equity ratios; and create a compelling platform
to generate sustainable long-term growth.

The acquisition is a strategic acceleration of Fifth Third’s long-term growth plan, enhancing scale,
profitability, and geographic reach. The combination of Fifth Third’s award-winning retail banking and digital capabilities with Comerica’s strong middle market banking franchise and attractive footprint further strengthens Fifth
Third’s position in high-growth markets. The combined entity will operate in 17 of the 20 fastest-growing markets in the country, including key regions in the Southeast, Texas and California, while solidifying its leadership in the Midwest. By
2030, it is expected that over half of Fifth Third’s branches will be located in the Southeast, Texas, Arizona and California. Moreover, the combined company will have two $1 billion recurring and high return fee businesses –
Commercial Payments and Wealth and Asset Management – which provide durable, diversified earnings and the additional capacity to reinvest in future growth.

“This combination marks a pivotal moment for Fifth Third as we accelerate our strategy to build density in high-growth markets and deepen our commercial
capabilities,” said Tim Spence, Chairman and CEO of Fifth Third Bank. “Comerica’s strong middle market franchise and complementary footprint make this a natural fit. Together, we are creating a stronger, more diversified bank that
is well-positioned to deliver value for our shareholders, customers, and communities – starting today, and over the long-term.”

“Our
unique approach to relationship banking has served