New stock may sore; insiders get best deal
Article Abstract:
Savvy depositors of Federal Savings Bank are expecting a boom when the tiny South Philadelphia bank converts to stock ownership. This makes sense for investors who do not get the insider price since saving banks are owned by their customers and hence depositors get first crack at conversion shares.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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PNC will buy troubled Riggs: As part of the $779 million deal, the Riggs Bank unit will shed all businesses causing its current regulatory issues
Article Abstract:
PNC Financial Service Group Inc. has agreed to buy Riggs National Corp for about $779 million in stock and cash. The part of the deal with the larger, Pittsburgh-based PNC, Riggs would shed all its diplomatic and international businesses, the source of its regulatory troubles.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
User Contributions:
Comment about this article or add new information about this topic:
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