Fifth Third’s $11 Billion Deal Sparks Hope for Bank Merger Wave

The youngest head of a big bank is making his boldest move yet, which could set off a wave of dealmaking in the crowded US finance sector.

Cincinnati-based Fifth Third Bancorp., run by 46-year-old Tim Spence, struck an almost $11 billion deal to buy Dallas-based Comerica Inc. on Monday, finally satiating investors who’d long expected the firm to make such a move. The deal is sparking speculation of a floodgates moment, with industry watchers rushing to identify other potential takeover targets as they called the end of a blockage for large mergers and acquisitions.