The deadline for Commerzbank shareholders to tender their shares in UniCredit’s takeover bid expires at midnight on Friday.
The Italian lender is scheduled to announce the outcome of the offer on July 8, a date that will determine whether it secures a controlling stake in the Frankfurt-based bank.
The bank has argued that its shareholder structure remains stable despite the ongoing pressure from the Italian group.
UniCredit expects to obtain a majority at the general meeting, which would grant it the power to replace the current management team.
This potential leadership change raises the prospect of a direct confrontation with the German federal government, which holds a significant stake in Commerzbank and has historically been protective of the lender’s independence.
Commerzbank’s leadership has previously pushed back against the bid, asserting that its largest investors have maintained their positions rather than selling into the offer.
The bank has argued that its shareholder structure remains stable despite the ongoing pressure from the Italian group.