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BB&T $28.24 billion acquisition of SunTrust Banks

7/2/2019
Public acquisition
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$ 28.24 billion

Announced

7/2/2019

Overview:

  • BB&T has acquired SunTrust Banks in a $28.24 billion deal. 
  • The all-stock merger makes the new entity the sixth-largest lender in the US. 
  • The combined company is valued at $66 billion. 
  • Goldman Sachs acted as financial adviser for SunTrust. 
  • The transaction is expected to close by the fourth quarter of 2019. 

Kurt Stumpo - US Editor

Jurisdiction:

United States

Deal type:

Public acquisition

Practice area:

M&A

Governing law:

United States

Industry sectors:

Banking
Financial services

Firms:
Fried Frank Harris Shriver & Jacobson

Party: Goldman Sachs (Financial adviser)

Lawyer: Philip Richter

Sullivan & Cromwell

Party: SunTrust Bank (Target)

Lawyers: H Rodgin Cohen, Mitchell Eitel

Wachtell Lipton Rosen & Katz

Party: BB&T Corporation (Acquirer)

Lawyers: Edward Herlihy, Matthew Guest

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