PNC Buying BBVA’s U.S. Subsidiary for $11.6 Billion
PNC Financial Services Group says it is buying the U.S. subsidiary of Spain’s BBVA bank for $11.6 billion in cash. BBVA’s U.S. operations are based in Houston, Texas. It has $104 billion in assets and operates 637 branches, mainly in the south and southwest of the country. The bank has a large corporate presence in Birmingham, going back to the…
