In a message to staff, Commerzbank’s CEO Bettina Orlopp announced that when the bank examines Unicredit’s announced takeover bid it will give particular weight to the interests of its employees. The note, reported by the Tuesday issue of “Handelsblatt”, explained that the board, together with the supervisory board, has a duty to review the offer as soon as it is made public and that this will be done with due diligence and responsibility. Orlopp stressed that all stakeholders’ interests, especially those of employees, will be taken into account.
According to insiders quoted by “Handelsblatt”, the board and supervisory board are expected to recommend rejecting the bid to the bank’s shareholders. They believe a hostile takeover would be unwise and that Unicredit would not deliver the synergies the market is hoping for. They also view the offer price as unattractive for the bank’s own shareholders.
In her letter, Orlopp urged employees not to let the takeover fray distract from day‑to‑day operations. “I can understand if the current situation may cause concern” she wrote. “It should not affect our daily work for the time being. We will continue to work with full force on our strategy, and we remain fully committed to serving our customers. That is our responsibility and our highest priority”.