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PNC - PNC to acquire U.S. operations of Spain's BBVA for $11.6B
PNC Financial Services Group Inc.
The PNC Financial Services Group (PNC) inks agreement to acquire BBVA USA Bancshares, the U.S. business of Spanish financial group Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), including its U.S. banking subsidiary, BBVA USA, for a purchase price of $11.6B to be funded with cash on hand in a fixed price structure.