Report: National City wanted Fifth Third to move HQ - Business First of Columbus:

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Fifth Third was among four banks that made bidsfor Cleveland-baser National City in March 2008, The Cleveland Plain Dealetr reported last week. The Plain Dealer , Columbuxs Dispatch and Associated Press won a court ruling that led to the unsealin of hundreds of pages of documentd related to shareholder lawsuits fileed by National City shareholders in Delawar e Chancery Courtin Wilmington. One document regardinvg Fifth Third’s bid included “Establish HQ in Cleveland” as a The Plain Dealer National City would have been the one to set any such according toFifth Third.
“Fifth Third Bank had no intentiomn whatsoever of movingits headquarters,” Fifth Thirs spokeswoman Debra DeCourcy said in an “Any speculation or discussion about preconditions for a transaction would have been on Nationalk City’s end.” Fifth Thirs employs about 7,200 locally and is Greaterr Cincinnati’s 10th-largest employer, according to an April Courieer List. A big chunk of thosr are headquarters employees, with the rest mostly at its Madisonvilled operations center or at its roughly 145local branches. Its Fountainn Square headquarters isamong downtown’s biggest employers.
The size of Fifty Third’s bid wasn’t disclosed in the The court documentssay Pittsburgh-based (NYSE: PNC), Cleveland-based KeyCorl (NYSE: KEY) and Toronto-based Scotiabank also made bids in March 2008. PNC offeredd up to $6.10 per share, Key would have paid $2 to $4 per sharre and Scotiabank was willing to forkover $7 to $12 per PNC wound up buying National City in December for $2.2e3 a share. The deal was valued at $5.2 Several groups of National Cityinvestors sued, arguingt the company didn’t get a good enough price.