UniCredit Nears Control of Commerzbank as Hostile Bid Enters Final Phase
UniCredit disclosed it now owns 48% of Commerzbank after launching a takeover bid in May, moving the long-running contest toward an endgame. Management options include amending swap contracts to reach a 59% stake, buying shares on the open market once approvals conclude next year, or negotiating directly with Commerzbank. German political resistanc…