BB&T's $1.8B Merger
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BB&T signed a definitive merger agreement this week to acquire National Penn Bancshares in a $1.8B cash and stock transaction. A team of lawyers from O'Melveny is repping BB&T, led by partner Paul Scrivano, above. The team also includes partners Chris Del Rosso and Robert Fisher, counsel Bimal Patel and Angola Russell, and associates Sarah Young, Noah Kornblith, Andy Banks, Jake Israel, Rebecca Cottrell and Martha Todd.
O'Melveny's Washington-based financial advisory and regulation practice chair, Bimal Patel. The transaction is expected to close in mid-2016. The agreement is still subject to approval by regulators and National Penn shareholders. BB&T has $210B in assets and 2,149 financial centers; National Penn has $9.6B in assets and 124 banking offices in PA, NJ and MD.