Business Services Industry
PNC Financial Services Group to Report Merger of BlackRock and Merrill Lynch Investment Managers - Research and Markets Offers a Brief of 'PNC Financial Services Group' Conference Call
Business Wire, Feb 15, 2006
DUBLIN, Ireland -- The PNC Financial Services Group (NYSE:PNC) Corporate Conference Call took place on 15-Feb-06 10:30am ET.
PNC reported that BlackRock has announced their signing of a definitive agreement to merge with Merrill Lynch's investment management business. PNC expects to record a $1.6b after-tax gain, as well as retain an additional $2.6b pretax gain of unrecognized value. PNC expects this transaction to be immediately accretive by $17m or $0.06 per share, before considering the impact of any share repurchases.
More information on this Conference Call can be obtained from Research and Markets at http://www.researchandmarkets.com/transcripts/80446
This document provides a non-biased summary of the conference call detailing the key points and the full Q&A session.
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