BBT - BB&T And SunTrust - Merger On
Strength in Numbers
The yet to be named bank that emerges from the planned acquisition by BB&T Corporation (BBT) of SunTrust (STI) in an all-stock deal (1.295 BBT shares for each STI share) will be the sixth largest bank in the US. The deal is expected to close in the fourth quarter of 2019, pending regulatory approval, and the merged bank will be headquartered in Charlotte, North Carolina. The management team will be derived equally from the existing management of both merging banks. The new CEO will be the current