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PNC » Topics » N OTE 2 A CQUISITIONS A ND D IVESTITURES

This excerpt taken from the PNC 10-Q filed Nov 6, 2008.

NOTE 2 ACQUISITIONS AND DIVESTITURES

On April 4, 2008, we acquired Lancaster, Pennsylvania-based Sterling Financial Corporation (“Sterling”). Sterling shareholders received an aggregate of approximately $224 million in cash and 4.6 million shares of PNC common stock.

On March 31, 2008, we sold J.J.B. Hilliard, W.L. Lyons, LLC (“Hilliard Lyons”), a Louisville, Kentucky-based wholly-owned subsidiary of PNC and a full-service brokerage and financial services provider, to Houchens Industries, Inc. We recognized an after-tax gain of $23 million in the first quarter of 2008 in connection with this divestiture.

See also Note 17 Subsequent Events regarding a planned acquisition.

This excerpt taken from the PNC 10-Q filed Aug 8, 2008.

NOTE 2 ACQUISITIONS AND DIVESTITURES

On April 4, 2008, we acquired Lancaster, Pennsylvania-based Sterling Financial Corporation (“Sterling”). Sterling shareholders received an aggregate of approximately $224 million in cash and 4.6 million shares of PNC common stock.

On March 31, 2008, we sold J.J.B. Hilliard, W.L. Lyons, LLC (“Hilliard Lyons”), a Louisville, Kentucky-based wholly-owned subsidiary of PNC and a full-service brokerage and financial services provider, to Houchens Industries, Inc. We recognized an after-tax gain of $23 million in the first quarter of 2008 in connection with this divestiture.

This excerpt taken from the PNC 10-Q filed May 12, 2008.

NOTE 2 ACQUISITIONS AND DIVESTITURES

On March 31, 2008, we sold J.J.B. Hilliard, W.L. Lyons, LLC (“Hilliard Lyons”), a Louisville, Kentucky-based wholly-owned subsidiary of PNC and a full-service brokerage and financial services provider, to Houchens Industries, Inc. We recognized an after-tax gain of $23 million in the first quarter of 2008 in connection with this divestiture.

On April 4, 2008, we acquired Lancaster, Pennsylvania-based Sterling Financial Corporation (“Sterling”). Sterling shareholders received an aggregate of approximately $224 million in cash and 4.6 million shares of PNC common stock.

EXCERPTS ON THIS PAGE:

10-Q
Nov 6, 2008
10-Q
Aug 8, 2008
10-Q
May 12, 2008

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