A PYMNTS Company

US: DOJ Oks BB&T, SunTrust merger approval with divestitures

By  |  November 10, 2019

BB&T and SunTrust Banks have won US antitrust approval to merge on condition that they divest 28 branches in three states, the Justice Department stated on Friday, November 8.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The deal still needs approval from the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation, reported CNBC. 

    SunTrust Banks stated it will sell 30 branches as part of its upcoming merger with BB&T Corp. to form Truist.

    “This announcement marks another significant and required step toward the merger of equals between BB&T and SunTrust,” said Kelly King, BB&T chairman and CEO.

    Full Content: CNBC

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.