NEW YORK, November 12, 2014: Morgan Lewis represented Susquehanna Bancshares, Inc. in specialized matters related to its acquisition by BB&T Corporation for a cash and stock transaction valued at approximately $2.5 billion.
The firm handled matters related to employee benefits, intellectual property and trademark matters. The deal was announced on November 12, 2014.
Susquehanna is a top 50 bank in the United States with $18.6 billion in assets, $13.6 billion in deposits and 245 banking offices in Pennsylvania, Maryland, New Jersey, and West Virginia. BB&T is one of the largest financial services holding companies in the U.S. with $187.0 billion in assets and market capitalization of $26.8 billion, as of September 30, 2014. The company operates 1,842 financial centers in 12 states and Washington, D.C. The acquisition will significantly expand BB&T's footprint in the Mid-Atlantic region and improve its ranking to number five in Maryland. This acquisition is subject to customary closing conditions.
Members of the Morgan Lewis team representing Susquehanna Bancshares, Inc. included Business and Finance partner Joanne Soslow; Employee Benefits and Executive Compensation partners Amy Kelly and Patrick Rehfield and associate Tim Kennedy. Also on the team were of counsel Alison Weisberg and partner James Sims for Intellectual Property matters as well as associate Dana Gross for trademark matters.
For more information about the transaction, please see the press release issued by Susquehanna Bancshares, Inc. here.