In short: Named as the acquisition Fifth Third is integrating: Terranova's reason for staying long Fifth Third is that "you're going to see the integration of Comerica in the second half of the year — I think that's going to be beneficial." Context only; no stance on Comerica itself.
In short: Bill — the Fifth Third acquisition target. FITB is buying Comerica; activist HoldCo argued Comerica holders were being underpaid — so Smead reads it as a good price for Fifth Third. Reference within the FITB thesis.
55:25It was good enough that Holdco, one of the um one of the activists on it were screaming from the top of a roof that they were, you know, taking advantage of America shareholders. And so we think they got a really good price based on what we read in that deck. — And when you buy a bank, there's like a 15 person executive team that is instantly unneeded.
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