SunTrust, BB&T To Sell 30 Branches In DOJ Deal

Law360 (November 8, 2019, 2:00 PM EST) -- SunTrust and BB&T plan to divest 30 bank branches in North Carolina, Virginia and Georgia in order to secure a green light from the U.S. Department of Justice for their anticipated $28 billion merger of equals, according to a Friday announcement. 

The divestiture will see SunTrust Banks Inc. part ways with 30 branches — two more than required by the DOJ — in a sale to First Horizon Bank in order to gain clearance for the planned merger with BB&T. While the financial terms of the deal were not released, the package of branches collectively hold $2.4 billion in deposits and $410 million...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!