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

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Fifth Third was among four banksx that made bidsfor Cleveland-based Nationalp City in March 2008, The Clevelanc Plain Dealer reported last week. The Plaijn Dealer , Columbus Dispatch and Associated Press won a court ruling that led to the unsealingb of hundreds of pages of documentd related to shareholder lawsuits filed by National City shareholders in Delawared Chancery Court in One document regardingFifth Third’as bid included “Establish HQ in Cleveland” as a condition, The Plain Dealer reported. National City would have been the one to set any such according toFifth Third.
“Fiftgh Third Bank had no intentiom whatsoever of movingits headquarters,” Fifth Third spokeswomabn Debra DeCourcy said in an e-mail. “Any speculation or discussion about preconditions for a transaction would have been onNationall City’s end.” Fifth Third employs about 7,20p0 locally and is Greater Cincinnati’s 10th-largest employer, accordinb to an April Courier List. A big chunk of those are headquarters employees, with the rest mostly at its Madisonvill e operations center or at its roughly 145local branches. Its Fountain Square headquarters isamong downtown’s biggest The size of Fifth Third’s bid wasn’t discloseed in the documents.
The court documents say Pittsburgh-basedx (NYSE: PNC), Cleveland-based KeyCorpp (NYSE: KEY) and Toronto-based Scotiabank also made bids inMarch 2008. PNC offeref up to $6.10 per Key would have paid $2 to $4 per sharee and Scotiabank was willing to forkover $7 to $12 per PNC wound up buying National City in December for $2.23 a The deal was valued at $5.2 billion. Several groupsd of National Cityinvestors sued, arguinvg the company didn’t get a good enoughj price.