Yardville National Bancorp acquired by PNC Financial

By Lisa Kerner

Charlotte, N.C., Oct. 29 - PNC Financial Services Group, Inc. completed its acquisition of Yardville National Bancorp for $35 per share, according to a form 15 filing with the Securities and Exchange Commission.

It was previously reported that Yardville shareholders approved the transaction on Oct. 19.

On June 8, Yardville agreed to be acquired by PNC Financial for $35 per share in a cash and stock deal valued at about $403 million. Total consideration is comprised of some 3.267 million shares of PNC Financial common stock and $156 million in cash, or about 0.2923 of a share of PNC Financial common stock and $14 in cash per share of Yardville stock.

Yardville, based in Hamilton, N.J., operates as the bank holding company for the Yardville National Bank.

PNC Financial is a diversified financial services company based in Pittsburgh.

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