Susquehanna Bancshares Up 35 Percent on Deal With BB&T

Shares of Susquehanna Bancshares SUSQ are trading sharply higher following news that BB&T BBT will acquire Susquehanna in a deal valued at roughly 2.5 billion. Shareholders of Susquehanna will receive 0.253 shares of BB&T common stock and $4.05 in cash for each share of Susquehanna the presently hold. This values the deal at $13.75 per share, using the closing price of 38.33 for BBT. This acquisition is subject to regulatory approvals and approval of Susquehanna shareholders. Shares of SUSQ are trading at 13.35 in pre-market trade, up nearly 35 percent and just below the implied value of 13.75.