Comerica-Fifth Third deal’s speed attacked by investor HoldCo

Core Insights - Activist investor HoldCo is urging Comerica shareholders to reject Fifth Third's $10.9 billion acquisition, citing concerns over the rushed nature of the deal and the motivations behind it [3][5][7] Group 1: Acquisition Details - HoldCo accused Comerica of making "disastrous decisions" and having "objectively poor performance" prior to the merger agreement with Fifth Third [3] - The investor criticized Comerica for ignoring a bid from another potential suitor, identified as "Financial Institution A," believed to be Regions [3] - The merger process was completed in just 17 days, marking it as the fastest bank merger timeline since the 2008 financial crisis [7] Group 2: Legal Actions and Shareholder Concerns - HoldCo filed a lawsuit against Fifth Third and Comerica in Delaware, demanding a more transparent account of events leading to the merger [4] - The investor claims that Comerica CEO Curt Farmer prioritized personal interests over shareholder value, particularly in the context of a potential proxy contest at the 2026 annual meeting [4][6] - Institutional Shareholder Services recommended shareholders approve the merger but noted that initial disclosures were insufficient for informed decision-making [7]