TPG-Axon Bumps National City (NCC) Stake, Then Drops Below 5% Threshold

October 2, 2008 3:42 PM EDT

In a 13G filing on National City Corporation (NYSE: NCC), TPG-Axon reported 3.86% stake (80,990,300 share) stake in the company. The firm held 14,680,000 shares at the quarter ended June 30, 2008.

In the filing, TPG-Axon said it beneficially owned more than 5% of the Common Stock as of September 22, 2008 but has subsequently decreased its beneficial ownership below 5%.

TPG-Axon Capital is a leading global investment firm with over $5.8 billion of capital invested in public and private markets around the world. TPG-Axon spun out of buyout firm Texas Pacific Group.


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