National City Corp. said it has terminated its offer to buy the shares it does not own of National Processing Inc., its transaction processing subsidiary.

The bank said fewer than half of the publicly traded outstanding shares had been tendered in response to its $9.50-a-share offer.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.