Riggs, PNC Deal Closing Later than Expected

Published on:
12 September 2006 at 10:18 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00008663-riggs-pnc-deal-closing-later-than-expecte/

Riggs National Corp., facing increased scrutiny and potential financial fallout from a federal money-laundering probe, said on Thursday its acquisition by PNC Financial may close later than originally expected as the banks convert computer systems.

Riggs, the banker to presidents and diplomats in Washington, also said the Federal Reserve would be unlikely to approve its request to make payments due Dec. 31 on various tranches of debt.

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Riggs, PNC Deal Closing Later than Expected

Unknown Author

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