The government must settle with RIGS by the end of this month, otherwise PNC has the right to walk. I am not sanguine about the government getting all the issues settled by then. I am willing to be a lead plaintiff against Joe A. and the board for managing the company contrary to the minority stockholders best interest. Don't be surprised if the deal falls through.
you are correct with this possibility. because of all the problems and expenses riggs has had, there is a potential for a price reduction by pnc. hopefully not but a possibility which would reduce your upside. and there is always the possibility the deal is called off. lets hope not and i do not think this will happen. weigh your risk reward potential before making a decision.
You have have a better feel for what this stock will go for in the next couple of weeks. The FEd and RIGGS are looking to settle any claims and avoid further prosecution by the end of the month. Once the final damage is on the table, PNC will likely take one week to confirm, discount, or break the deal. If broken, the stock will dip, but there would likely be other buyers. PNC wasn't initially the highest bidder on the deal..