Expansion continues for PNC Group

Published June 18, 2007 4:00am ET



PNC Financial Services Group isn?t afraid to grow.

Following its acquisition and current rebranding campaign of Mercantile Bancshares, the Pittsburgh-based agency is launching a campaign into New Jersey. Entrenching itself in the mid-Atlantic region, PNC is purchasing Yardville National Bancorp for a mixture of $14 in cash and .2923 shares of PNC for each share of Yardville. Together, the stock-and-cash package is priced at about $35 per allotment for shareholders. Friday, shares of Yardville were trading for $35.10.

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