Wolf Popper LLP Investigates the Proposed Acquisition of SunTrust Banks, Inc. by BB&T Corporation

PRNewswire 7-Feb-2019 2:46 PM

NEW YORK, Feb. 7, 2019 /PRNewswire/ -- Wolf Popper LLP is investigating claims on behalf of investors in SunTrust Banks, Inc. (NYSE:STI) concerning the proposed acquisition of SunTrust by BB&T Corporation (NYSE:BBT).  According to Carl Stine, a partner at Wolf Popper, "The exchange ratio for this transaction is at a low valuation for SunTrust shareholders considering where the stock has been trading and where analysts see it going." 

Under the terms of the proposed acquisition, SunTrust shareholders will receive 1.295 BB&T shares for each SunTrust share for a value of $62.85 per share based on BB&T's February 6, 2019 closing stock price of $48.53 per share for a total transaction value of over $28 billion. However, the proposed offer price is below the 52-week average and high stock prices of $66.06 and $74.71 per share, respectively and below the median and high Street price targets of $68.22 and $88.00 per share, respectively.

Wolf Popper is investigating claims on behalf of investors in SunTrust concerning the transaction. SunTrust's shareholders seeking more information about the transaction or Wolf Popper's investigation can contact Mr. Stine at (212) 759-4600 or cstine@wolfpopper.com.

Wolf Popper has extensive experience representing investors in mergers and acquisition lawsuits.  Nine Wolf Popper attorneys were named Super Lawyers or Rising Stars in the 2018 Super Lawyers New York City Metro Edition, including Wolf Popper partner Carl Stine, who was included in the Super Lawyers Top 100 List for the New York City Metro area.  View Wolf Popper attorney biographies at www.wolfpopper.com.

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Wolf Popper LLP
845 Third Avenue
New York, New York 10022
Telephone: 212-759-4600
Toll Free Tel: 877-370-7703
Toll Free Fax: 877-370-7704
Email: cstine@wolfpopper.com

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SOURCE Wolf Popper LLP