Thursday, Apr 26, 2018
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Fifth Third: Takeover rumor unsubstantiated

CINCINNATI Fifth Third Bancorp Inc. shares settled down yesterday after climbing signifi cantly Tuesday from rumors

that the banking company was possibly to be taken over.

Company Chief Executive George Schaefer told his staff in memo that there was an unsubstantiated rumor on the Web site of WLWT-TV in Cincinnati that the 11th-largest U.S. bank might merge with Wells Fargo & Co. or U.S. Bancorp, respectively the No. 5 and No. 6 U.S. banks.

Fifth Third s stock dropped 49 cents yesterday to close at $38.30 a share after climbing $1.68 on Tuesday.

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