Pittsburgh-based lender says it will be able to buy National City when it sells $7.7 billion of its own stock to the government. The 163-year-old National City, Ohio’s largest bank, joins Washington Mutual Inc. and Wachovia Corp. in selling after losses tied to failed home loans. The U.K. government says its economy is on the brink of recession and confirms that its economy shrank by 0.5 percent in the third quarter, the first time it has contracted since 1992.”]
Source: https://www.cuinfosecurity.com/pnc-to-buy-national-city-a-1026