PNC-RBC Deal Looks Better On Second Glance
- Wednesday, June 22, 2011, 2:21
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Yesterday’s announced deal between PNC Financial and Royal Bank of Canada for a total $3.6 billion (which includes RBC’s U.S. banking business as well as some of its credit card assets), was met with a tepid reaction from investors. Shares of PNC have fallen 5% since Thursday’s close, but Andrew Marquardt at Evercore Partners is calling that way undervalued, saying that the deal may be better than it seemed at first glance.
http://blogs.forbes.com/heatherstruck/2011/06/21/pnc-rbc-deal-looks-better-on-second-glance/
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