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PNC Mows Down Yardville

Stock quotes in this article: PNC , YANB  

Yardville National Bank (YANB Quote) got trimmed on Thursday after PNC Financial Services(PNC Quote) agreed to buy the New Jersey bank for $403 million.

PNC said it would acquire the $3 billion-asset company in a cash and stock deal worth $35 a share -- a 2.2% discount to Yardville's closing price on Wednesday.

Shares of Yardville slumped $1.61, or 4.5%, to $34.16. The stock has been in a steady decline since it hit a 52-week high in November. Shares of PNC fell 56 cents to $71.28. ...

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