Commerzbank institutional investors tender just over 1% of shares in UniCredit offer, German bank says

Institutional investors have tendered just over 1% of shares in UniCredit's takeover offer, indicating very limited early acceptance. The low take-up is a mild negative for the bid and suggests weak momentum so far, though the report is narrowly informational. Market impact should be limited unless further tender data changes the outlook.

Analysis

Institutional investors have tendered just over 1% of shares in UniCredit's takeover offer, indicating very limited early acceptance. The low take-up is a mild negative for the bid and suggests weak momentum so far, though the report is narrowly informational. Market impact should be limited unless further tender data changes the outlook.