Commerzbank Seen Raising Some Targets as UniCredit Offer Starts

Commerzbank AG is expected to unveil steeper job cuts and more ambitious financial goals as it seeks to persuade its shareholders that they’re better off declining a €35 billion ($41 billion) takeover offer from UniCredit SpA.

The German lender will probably raise some targets for this year when it presents first-quarter earnings on Friday, reflecting slightly more favorable interest rates, according to people familiar with the matter. In the medium term, headcount will probably decline more than previously planned, helped by the adoption of artificial intelligence tools, the people said, asking for anonymity to discuss private information.