Sullivan & Cromwell LLP Logo
  • Home
  • Lawyers
  • Practices
  • Insights
  • About
  • Careers
  • Alumni
  • Client
© 2023 Sullivan & Cromwell LLP
    Home /  About /  News And Events /  Client Highlights
    Client Highlights

    S&C Advises SunTrust in a Merger That Will Create the Sixth-Largest U.S. Bank

    • Our Lawyers
    • Related Practices
    February 7, 2019
    Sullivan & Cromwell client SunTrust Banks, Inc. announced February 7 its planned all-stock merger with BB&T Corporation, creating the sixth-largest bank holding company in the United States based on assets and deposits. The merger is expected to close in late 2019.

    The combined company, valued at $66 billion, will operate under a new name and have headquarters in Charlotte, North Carolina. It will serve more than 10 million U.S. households, with about $442 billion in assets, $301 billion in loans and $324 billion in deposits.

    Under the terms of the merger agreement, SunTrust shareholders will receive 1.295 shares of BB&T for each SunTrust share they own. SunTrust shareholders will own about 43 percent of the combined company, and BB&T shareholders will own about 57 percent. The S&C team included Rodgin Cohen, Mitchell Eitel and Marc Treviño. 
    Read More
    Stay Updated

    Subscribe to stay current on S&C Insights.

    Our Lawyers

    Our Lawyers

    H. Rodgin Cohen Headshot Photo
    H. Rodgin Cohen
    New York
    +1-212-558-4000
    Email
    vCard
    Mitchell S. Eitel Headshot Photo
    Mitchell S. Eitel
    New York
    +1-212-558-4000
    Email
    vCard
    Marc Treviño Headshot Photo
    Marc Treviño
    New York
    +1-212-558-4239
    Email
    vCard
    Read More

    Related Practices

    • Executive Compensation
    • Financial Services
    • Financial Services Mergers & Acquisitions
    • Mergers & Acquisitions
    Sullivan & Cromwell LLP Logo
    • Twitter icon
    • LinkedIn icon
    • RSS Feed icon
    • Podcasts icon
    • Home
    • Contact Us
    • Sitemap
    • Information Policy Relating to Cookies
    • Privacy Policy
    • California Privacy Policy
    • Website Notice
    • Attorney Advertising Notice
    © 2023 Sullivan & Cromwell LLP