Behind the deal: PNC's whirlwind $4.1B bid for FirstBank

Key insight: PNC wanted to close the deal on an accelerated timeline. FirstBank agreed, but there was a catch.What's at stake: The Pittsburgh bank has been chasing scale for years, and the $28.6 billion-asset company it will acquire adds heft in the Rocky Mountains.Supporting data: PNC's original offer price was $3.75 billion, or about 9% less than the price tag it ultimately agreed to.After flirting with selling itself for years, FirstBank ended up in something of a shotgun marriage, hammering out the term ...