Did Melia hotel profit increase?
Yes, Mercantile Bankshares Corporation was acquired by The PNC Financial Services Group, Inc. The acquisition was officially completed on March 2, 2007. Under the terms of the deal, Mercantile shareholders received a combination of PNC common stock and cash for each share they held. Following the completion of the merger, the Mercantile name was eventually phased out as its branches were integrated into the PNC banking network. At the time of the transaction, the combined entity represented one of the largest diversified financial services organizations in the United States, significantly expanding PNC's regional footprint and total asset base.
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