Posted by Teresa Dixon Murray and Peter Krouse April 20, 2008
Updated 9:59 p.m.
In a deal it had to make to survive, National City Corp. today struck an agreement with private investors to get $6 billion to $7 billion of much-needed capital pumped into the Cleveland bank.
The deal, approved by the bank's board this evening, will preserve the 163-year-old bank's Cleveland headquarters and allow it to remain independent -- a relief to 7,800 local workers and a community that doesn't want to lose another Fortune 500 company.
For full story, click on link provided here: http://blog.cleveland.com/business/2008/04/post_11.html
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