UniCredit Launches €35 Billion Bid for Commerzbank
UniCredit SpA has launched a €35 billion ($40 billion) takeover offer for Commerzbank AG, aiming to increase its stake to over 30%. Currently holding approximately 26% directly and an additional 4% via total return swaps, UniCredit does not expect to gain full control under German law, which mandates a bid when surpassing the 30% threshold. The offer is set to be formally launched in May, with settlement anticipated in the first half of 2027, pending regulatory approvals.
US Shale Producers Hold Production Despite Rising Oil Prices
US shale producers are refraining from increasing production despite oil prices surpassing $100 per barrel, as they navigate the conflicting pressures of geopolitical tensions and the need to maintain lower petrol prices. The recent surge in prices follows air strikes by the United States and Israel on Iran, which have disrupted supply routes and raised security concerns in the region, leading to an estimated 8 million barrels per day of crude output being shut in.
