PNC shareholders vote on National City merger
PITTSBURGH — Shareholders of PNC Financial Services Group will hold a special shareholders meeting to vote on issues related to a merger with National City.
The PNC shareholders will meet in Pittsburgh today. National City shareholders will also be meeting in Cleveland today to vote on similar issues.
Cleveland-based National City is being acquired by PNC for $5.6 billion. PNC is the first U.S. bank to use money obtained under the government's $700 billion bailout program to make an acquisition.
The combined bank will have about $180 billion in deposits and more than 2,700 branches, most in the Mid-Atlantic, the Midwest and Florida. It will have the largest deposit bases in Pennsylvania, Ohio and Kentucky.
