Company: CMA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000028412-25-000235
Chunk: 151

Company: COMERICA INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 4
Chunk 151
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 other things, have the effect of delaying completion of the Merger or of imposing additional costs or limitations on the combined company following the Merger, any of which may have an adverse effect on us or the combined company following the Merger.

Either party may also be subject to lawsuits challenging the Merger, and adverse rulings in these lawsuits may delay or prevent the Mergers from being completed or require either party to incur significant costs to defend or settle these lawsuits. Any delay in completing the Merger could cause the combined company not to realize, or to be delayed in realizing, some or all of the benefits that we expect to achieve if the Merger is successfully completed within its expected time frame.

We expect to incur substantial expenses related to the Merger.

We have incurred and expect to incur a number of costs associated with the Merger and the integration of our business with Fifth Third’s business.  These costs include financial advisory, legal, and other advisory fees, severance/employee benefit‐related costs, public company filing fees and other regulatory fees and financial printing and other related costs. There are also a large number of processes, policies, procedures, operations, technologies and systems that may need to be integrated.

While we have assumed that a certain level of costs will be incurred, there are many factors beyond our control that could affect the total amount or the timing of the integration expenses. Moreover, many of the expenses that we will incur are, by their nature, difficult to estimate accurately. These expenses could, particularly in the near term, exceed the savings that we expect to achieve from the elimination of duplicative expenses and the realization of economies of scale. These integration expenses may result in charges against earnings as a result of the Merger or the integration of our business with Fifth Third’s business, and the amount and timing of such charges are uncertain at present.

While the Merger is pending, we will be subject to business uncertainties and contractual restrictions that could adversely affect our business and operations.

Uncertainty about the effect of the Merger on employees, customers, vendors and other persons with whom we have a business relationship may have an adverse effect on our business, operations and stock price. Existing customers, vendors and other business partners of ours could decide to no longer do business with us before the completion of the Merger or with the combined company after the Merger is completed, reducing its anticipated benefits. We are also subject to certain restrictions on the conduct of our business while the Merger is pending. As a result, certain projects may be delayed or