This excerpt taken from the PNC 10-K filed Mar 2, 2009.
NOTE 28 SUBSEQUENT EVENT
Beginning in the first quarter of 2009, PNC will have three new reportable business segments. These new business segments reflect the impact of our December 31, 2008 acquisition of National City and are as follows:
This excerpt taken from the PNC 10-Q filed Nov 9, 2006.
As previously reported, on October 8, 2006 we entered into a definitive agreement with Mercantile Bankshares Corporation (Mercantile) for PNC to acquire Mercantile for 52.5 million shares of PNC common stock and $2.13 billion in cash. Based on PNCs common stock price on October 6, 2006, the consideration represents $6.0 billion in stock and cash or $47.24 per Mercantile share.
Mercantile is a $17 billion asset banking company that provides banking and investment and wealth management services through 240 offices in Maryland, Virginia, the District of Columbia, Delaware and Southeastern Pennsylvania. The transaction is expected to close during the first quarter of 2007 and is subject to customary closing conditions, including regulatory approval and the approval of Mercantiles shareholders.
RELATED TOPICS for PNC: