Bloomberg Law
Feb. 7, 2019, 6:44 PM UTC

Wachtell, Sullivan & Cromwell Lead On BB&T, SunTrust Deal

Elizabeth Olson
Elizabeth Olson
Special Correspondent

Wachtell, Lipton, Rosen & Katz advised BB&T Corp in its $28.2 billion purchase of SunTrust Banks Inc, which was represented by Sullivan & Cromwell in the transaction.

The deal will create the sixth largest U.S. bank holding company and has been widely described as the largest bank merger since the 2008 financial crisis.

Shareholders of BB&T will own 57 percent of the combined company which will have a new name and a new headquarters in Charlotte, N.C.

The merger announcement said that the boards of both companies unanimously approved the all-stock deal.

Wachtell’s team was led by corporate partners Edward ...

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