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Federated Investors buying parts of PNC Capital Advisors for $52M

Patty Tascarella
Federated Investors buying parts of PNC Capital Advisors for $52M

Two Pittsburgh-based financial giants confirmed a big deal on Tuesday. Federated Investors Inc. and PNC Financial Services Group said they have reached a definitive agreement for Federated to acquire certain components of PNC Capital Advisors LLC’s investment management business.