Commerzbank revises €5.1 billion takeover of Dresdner

11/28/2008 | Bloomberg

Shares of Germany's Commerzbank soared 25% in Frankfurt after the bank announced that it will accelerate its acquisition of Dresdner Bank. The revised €5.1 billion deal will all take place in January rather than being split into two phases spread out next year. The deal follows a 61% drop in Commerzbank shares since it agreed in late August to take over Dresdner.

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