UniCredit's €35bn Hostile Bid Meets Commerzbank Resistance

Good Morning from, where UniCredit has launched a €35bn hostile takeover bid for Commerzbank, offering a premium of just 4% over Friday’s closing price, acc to BBG calculations. Commerzbank's management is likely to rebuff UniCredit's €30.8 per share offer, setting the stage for a prolonged takeover battle and a potentially higher bid.