Fifth Third to Buy Comerica in Year’s Biggest US Bank Deal

Fifth Third Bancorp agreed to buy Comerica Inc. for about $10.9 billion in stock, the largest US bank deal this year and a sign that the logjam blocking big mergers in the industry may have broken under the Trump administration’s deregulation efforts.

The deal will create the ninth-largest bank in the country, with about $288 billion in assets, the two companies said in a statement Monday. The per-share transaction value represents a 17% premium to Comerica’s closing share price Friday.