"Corsair and another private equity investor are contributing $985 million to the deal, with some of National City's large institutional shareholders also chipping in funds. The consortium will buy 126.2 million common shares at $5 a share, a 40% discount to National City's closing price of $8.33 on April 18, and get $6.4 billion in convertible perpetual noncumulative preferred stock, which is also convertible to common shares at $5 a share."
