SunTrust completed the merger of equals with BB&T valued at c. $66bn.

BB&T and SunTrust, two American bank holding companies, completed their merger of equals valued at c. $66bn. The companies formed Truist, a financial services organization. Under the terms of the merger agreement, SunTrust shareholders received 1.295 shares of BB&T for each SunTrust share they own. BB&T shareholders own c. 57% and SunTrust shareholders own 43% of the combined company. "This is a true merger of equals, combining the best of both companies to create the premier financial institution of the future. It's an extraordinarily attractive financial proposition that provides the scale needed to compete and win in the rapidly evolving world of financial services. Together with Bill's leadership and our new SunTrust teammates, we're going to bring the best of both companies forward to serve our clients and communities," Kelly S. King, BB&T Chairman and Chief Executive Officer.