DETROIT - The board of Comerica Inc. has authorized the repurchase of up to five million company shares.

In a press release, Comerica said it intends to reissue up to 4,585,000 of the repurchased shares to stockholders of Pacific Western Bancshares Inc. in exchange for their Pacific Western stock. As a result, the Pacific Western acquisition will be accounted for as a purchase transaction, rather than a pooling of interests. The repurchase of shares and the accounting change will not affect the tax treatment of the transaction.

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