A Little Sunshine? Not Really.

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National City to be acquired by PNC Bank. Well that's just ducky!
Then there is the sort of ancillary news that surrounds the announcement. Like the deafening silence that follows when PNC is asked if the government forced the deal. The muted snickering that could be heard when its pointed out that the purchase price was below NCC's stock price at the time. The $5.6 billion price tag. The $7.7 billion of PNC preferred shares and warrants being sold to the Treasury.
PNC to buy ailing National City for $5.6 billion [Reuters]

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