BAC - BB&T Shifts Gears In A Huge Way Announcing A Value-Creating Mega-Merger With SunTrust
For a company that had repeatedly said it wasn’t all that interested in whole bank M&A, BB&T (BBT) shifted direction in the biggest way possible, announcing on Thursday that it had reached an agreement with SunTrust (STI) to combine in a true merger of equals that will create the sixth-largest bank in the U.S. and a major force in the Southeast.
There are heightened execution risks to this deal, but I basically like it. Cost savings should exceed initial targets, and the combined company will not only see significant synergy in