PNC Financial Services (PNC)  is buying National City (NCC) for $2.23/share. Paying .0392 shares...

|About: National City Corp. (NCC)|By:, SA News Editor

PNC Financial Services (PNC)  is buying National City (NCC) for $2.23/share. Paying .0392 shares PNC for each NCC share.  Total payment is $5.2B in stock plus $384M in cash to certain warrant holders. Under TARP, PNC is also issuing $7.7b in preferred shares to U.S. Treasury. [PR]