Reports National City (NCC) Attracts Interest From Two Serious Bidders, But Deal Not Certain
Tweet
Share
E-mail
According to FT.com's dealReporter, National City (NYSE: NCC) has attracted interest from two serious bidders, but a buyer will not likely step up without more comfort about the bank's residential real estate portfolio.
The report also said that, instead of a complete sale, National City could just sell its asset management business or its stake in recent hot IPO Visa (NYSE: V). National City redeemed about 39% of its Visa shares related to the recent initial public offering.
Shares of National City have been extremely volatile since reports first surfaced the bank was looking to sell on 3/13. The stock rose as high as $16 intra-day on 3/13 and fell as low as $6.56 intra-day on 3/17. Shares of National are currently at $11.74.
Link to FT.com's dealReporter Article
The report also said that, instead of a complete sale, National City could just sell its asset management business or its stake in recent hot IPO Visa (NYSE: V). National City redeemed about 39% of its Visa shares related to the recent initial public offering.
Shares of National City have been extremely volatile since reports first surfaced the bank was looking to sell on 3/13. The stock rose as high as $16 intra-day on 3/13 and fell as low as $6.56 intra-day on 3/17. Shares of National are currently at $11.74.
Link to FT.com's dealReporter Article
You May Also Be Interested In
- Bernstein on whether Hershey (HSY) could eventually step up to buy Mondelez (MDLZ)
- Holcim said to acquire part of James Hardie's EU business
- MicroCloud Hologram acquires 140,268 MicroStrategy shares via structured note
Create E-mail Alert Related Categories
Insiders' Blog, Mergers and Acquisitions, RumorsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
