Friday, Oct 24, 2008
Major US bank NCC sold 19% below market
Credit Writedowns: National City sold
PNC, down only 13% this year-to-date, very good for a bank stock, is acquiring beleaguered Ohio bank NCC for $5.5 billion. The price represents a huge discount to the prevailing market price before open today and NCC was down 34% in early trading.
Posted by edwardnh @ 02:53 PM (102 views) Add Comment
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