BB&T Takes On Extra $285M Securities In BankAtlantic Deal

Law360, New York (March 13, 2012, 1:23 PM EDT) -- Financial services firm BB&T Corp. will assume an additional $285 million of outstanding securities in its takeover of assets from a Florida subsidiary of BankAtlantic Bancorp Inc., BB&T said Tuesday, in light of pending litigation filed by the bank's investors.

North Carolina-based BB&T modified its original November purchase agreement for several branches, loans and other assets, and will assume the extra liabilities after a Delaware judge blocked the proposed sale last month. The judge sided with those who accused the firm of cherry-picking assets and said...
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