BB&T Corp To Buy SunTrust Banks For $28 Billion In Stock

www.oann.com | 7/22/2010 | Staff
chrismpotts (Posted by) Level 3
(Reuters) – BB&T Corporation said on Thursday it will buy SunTrust Banks Inc for $28.24 billion in an all-stock deal, creating the sixth largest U.S. bank based on assets and deposits.

The companies called it a merger of equals, valued at $66 billion.

SunTrust - Shareholders - Shares - BB - T

SunTrust shareholders will receive 1.295 shares of BB&T for each share they own. The per share deal value of $62.85 is at a 7 percent premium to SunTrust’s closing price on Wednesday, according to a Reuters calculation.

BB&T shareholders will own 57...
(Excerpt) Read more at: www.oann.com
Wake Up To Breaking News!
Sometimes I Wake Up Grumpy. Other Times I Let Her Sleep
Tagged:
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!