(Reuters) - PNC said it would pay $19 a share, an 80 percent premium over Sterling's Wednesday closing price of $10.55. Sterling's share price has fallen 53 percent in the last six months.
PNC said the deal will help boost its earnings in 2009. It also said it expects to take a one-time after-tax charge of $28 million for the acquisition.
Read more at Reuters.com Mergers News
PNC said the deal will help boost its earnings in 2009. It also said it expects to take a one-time after-tax charge of $28 million for the acquisition.
Read more at Reuters.com Mergers News
No comments:
Post a Comment