(Reuters) – PNC Financial Services Group Inc <PNC.N> said on Monday it would buy the U.S. business of Spanish lender BBVA <BBVA.MC> for $11.6 billion in cash, further consolidating the U.S. banking sector.
It is the second-largest U.S. banking deal since the 2008 financial crisis and creates a U.S. bank with nearly $560 billion of assets and a presence in two dozen states.
(Reporting by Shubham Kalia in Bengaluru; Editing by Anil D’Silva)
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