PNC Financial Services Group Inc (PNC.N) may be near a deal to purchase Royal Bank of Canada's(RY.TO) U.S. retail bank operations, Bloomberg reported on Friday, citing sources familiar with the deal. RBC, the largest Canadian bank by assets, may sell the unit to Pittsburgh-based PNC Financial in the coming days over a rival bid from Winston-Salem, North Carolina-based BB&T Corp (BBT.N), Bloomberg reported. Terms of the possible deal have not been disclosed, according to the Bloomberg report, but one analyst estimate said a sale could fetch RBC as much as $3.7 billion. A PNC spokeswoman declined to comment, citing a bank policy not to discuss "rumor or speculation."
The PNC Financial Services Group, Inc. (PNC) is a diversified financial services company in the United States. Shares of PNC fell by 2.34% or $-1.39/share to $58.08. In the past year, the shares have traded as low as $49.43 and as high as $65.19. On average, 3395060 shares of PNC exchange hands on a given day and today's volume is recorded at 1477803.
Royal Bank of Canada (RBC) is a diversified financial services company and provides personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services. Shares of RY traded higher by 0.91% or $0.5/share to $55.24. In the past year, the shares have traded as low as $46.04 and as high as $63.59. On average, 620288 shares of RY exchange hands on a given day and today's volume is recorded at 76810.
BB&T Corporation (BB&T) is a financial holding company. Shares of BBT remained unchanged at $26.25. In the past year, the shares have traded as low as $21.72 and as high as $30.42. On average, 5677850 shares of BBT exchange hands on a given day and today's volume is recorded at 797095.
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