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Wednesday, November 12, 2014

BB&T to purchase Susquehanna in $2.5 billion deal, (NASDAQ: SUSQ)

BB&T Corp said it would acquire Susquehanna Bancshares Inc in a cash-and-stock deal valued at about $2.5 billion. Susquehanna shareholders will receive 0.253 shares of BB&T and $4.05 in cash for each share held, valuing the deal at $13.74 per share based on BB&T's closing price on Tuesday.

Susquehanna Bancshares, Inc. (Susquehanna) is a financial holding company that provides a range of retail and commercial banking and financial services, through its subsidiaries in the mid-Atlantic region. Shares of SUSQ fell by 0.8% or $-0.08/share to $9.90. In the past year, the shares have traded as low as $9.00 and as high as $13.08. On average, 1293740 shares of SUSQ exchange hands on a given day and today's volume is recorded at 873175.