STI - BB&T And SunTrust - Regional Merger Creating Another Banking Giant
BB&T (BBT) and SunTrust (STI) have reached a deal under which both banks will enter into a merger of equals agreement with a massive equity value of $66 billion, in an effort to create the 6th largest US bank based on assets and deposits.
The deal makes perfect sense given the overlap and need for scale with technology investments seen up sharply in the coming years, in order to guarantee a competitive positioning in the years to come.
I like the deal and see the rationale, as well as potential for