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Comerica discloses further exercise price cut for legacy Sterling warrants

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Comerica discloses further exercise price cut for legacy Sterling warrants

Dallas-based Comerica Inc. disclosed another reduction in the exercise price of the outstanding legacy Sterling Bancshares Inc. warrants to purchase Comerica common shares.

In September, the exercise price was cut to $7.170 per share from $7.177 per share.

The current adjustment to $7.164 per share, which takes effect Dec. 15, stems from the 30 cents-per-share dividend declared by Comerica's board Nov. 7.