National City Corp fka NCC

[lucky, mydog]

chilar and h82. i really don't know. i am more of an investor than i am a trader. i thought the price was fixed at 2.23 but apparently what was fixed was the ratio. here is a link which may explain it best.

http://messages.yahoo.com/Business_&_Finance/Investments/Stocks_(A_to_Z)/Stocks_N/threadview?m=tm&bn=12389&tid=87800&mid=87808&tof=13&off=1

Yes it can go up. The law of one price prevents arbitrage opportunities. So if PNC goes up so does NCC. Likewise if PNC goes down NCC will too.

The deal is a fixed ratio 0.0392 shares PNC for every NCC owned. The $2.23 mentioned just refers to what the ratio amounted to in dollars on Thursdays closing price.

If PNC goes up to $60 then the buyout price for NCC is technically $2.35. If PNC is $80 then the NCC price is $3.13. and if PNC falls to $40 NCC is $1.56. NCC Shareholders are getting shares of PNC not $2.23 cash, so NCCs share price is kinda irrelevent unless you want to sell prior to the conversion of NCC shares to PNC shares.

For those holding longer than that it is obviously PNCs share price that matters