Deutsche Bank, Crosstown Rival Commerzbank End Deal Talks
The Wall Street Journal | Thu, Apr 25, 2019
by Jenny Strasburg, Ben Dummett and Patricia Kowsmann
Banking giant Deutsche Bank AG and its crosstown rival Commerzbank Thursday ended merger talks, leaving in tatters the German government’s hope to shore up both banks and create a domestic banking powerhouse.
The CEOs and chairmen of both banks met Thursday morning in Frankfurt to seal the decision, a person familiar with the meeting said. Deutsche Bank had been leaning toward pulling out of negotiations for the past week, daunted by the costs and intricacies of combining the banks and difficulties convincing shareholders of the upside, people close to the discussions say.