BB&T, SunTrust Shareholders Approve Merger
July 30 2019 - 1:02PM
Dow Jones News
By Allison Prang
Shareholders of BB&T Corp. (BBT) and SunTrust Banks Inc.
(STI) approved the companies' plans to merge.
SunTrust said Tuesday that 99% of its shares voted were in favor
of the deal. BB&T said over 98% of shares voted were in
favor.
BB&T and SunTrust are expecting the deal to close either
late this quarter or next quarter, they said.
The regional banking companies announced the stock deal in
February. The companies' merger is supposed to be the largest bank
deal since the financial crisis. It was valued at $28.2 billion
when it was announced.
BB&T said over 96% of its shares voted were in favor of the
name for the combined company, Truist.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
July 30, 2019 12:47 ET (16:47 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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