Comerica shareholders have overwhelmingly approved the bank’s $10.9bn all-stock sale to Fifth Third Bancorp, brushing aside opposition from activist hedge fund HoldCo Asset Management, which had urged investors to reject the transaction, according to a report by Reuters.
The report cites unnamed people familiar with the matter as revealing that at a special meeting on Tuesday, around 97% of Comerica shareholders voted in favour of the deal, with just over 2% voting against. The merger, first ann...
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