Dispatch Takes Issue With Bank's $7B Deal

Law360, New York (May 5, 2008, 12:00 AM EDT) -- The company that owns the Columbus Dispatch, an Ohio newspaper, has sued National City Corp. for allegedly selling control of the bank at less than fair value.

In a complaint filed Thursday with the Court of Common Pleas in Franklin County, Ohio, the Dispatch Printing Co. alleges that the $7 billion deal between National City and a group of so-called secret investors would dilute its voting power and entrench existing management.

“Plaintiff is informed and believes that the director-defendants offered this opportunity to NCC's large institutional...
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