BBT Is Buying SunTrust Banks (BBJ Story)
BB&T Corp. is buying SunTrust Banks Inc., a $66 billion merger that will create the nation’s sixth-largest bank.
The banks called it a merger of equals, but BB&T will buy SunTrust for $28.24 billion in an all-stock deal. The deal has been approved by the boards of both banks. BB&T and SunTrust are two of Greater Baltimore's largest banking institutions. BB&T is the area's fifth largest bank and SunTrust is the sixth largest bank in Greater Baltimore.