Cleveland-based National City Corp. said Tuesday that it is poised to acquire Raffensperger, Hughes & Co., an Indianapolis investment banking and brokerage firm, for an undisclosed cash sum.

Analysts speculated that Nat City would pay about $12 million for the company, which generates $20 million of annual revenues and $10 million in market capitalization.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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