Client Highlight: SunTrust



S&C advises SunTrust on the biggest bank deal since 2004.

A $66 billion merger is a complex and challenging transaction in any industry. When the two merging companies are banks, the issues are even more formidable. S&C brought its full range of financial services expertise to bear as it advised SunTrust Banks during its merger with BB&T Corporation. This all-stock merger of equals is valued at approximately $66 billion, and created the sixth-largest bank in the U.S. based on assets and deposits.
 
The transaction closed in December 2019, and is the largest bank merger since J.P. Morgan Chase & Co. and Bank One Corporation combined in a merger of equals in 2004.
 
Both SunTrust and BB&T are among the nation’s leading providers of financial services. The combined company is now Truist Financial Corp., and is headquartered in Charlotte, North Carolina, with wholesale banking headquarters in Atlanta, Georgia, and retail bank headquarters in Winston-Salem, North Carolina.
 
As the financial services regulatory environment has grown more complex in the aftermath of the financial crisis, our integrated approach to client service has become even more valuable. Our financial services team provides world-class advisory services in regulatory matters, mergers and acquisitions, capital markets, tax and antitrust matters and executive compensation and benefits, as well as investigations and litigation.

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