PNC and U.S. Bancorp were final bidders for NatCity: sources

Fri Oct 24, 2008 4:24pm EDT
 
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NEW YORK (Reuters) - US Bancorp (USB.N) and PNC Financial Services Group Inc (PNC.N) were the two final bidders for U.S. regional bank National City Corp NCC.N, sources familiar with the matter said on Friday.

PNC won the auction, agreeing to buy the Ohio-based lender in a government-supported $5.6 billion transaction to create the No. 5 U.S. bank by deposits.

(Reporting by Paritosh Bansal; editing by Carol Bishopric)

 

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