{"id":28234,"date":"2012-03-14T14:33:00","date_gmt":"2012-03-14T18:33:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=28234"},"modified":"2012-03-14T14:33:00","modified_gmt":"2012-03-14T18:33:00","slug":"bbt-changes-acquisition-agreement-with-bankatlantic","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/03\/14\/bbt-changes-acquisition-agreement-with-bankatlantic\/","title":{"rendered":"BB&#038;T Changes Acquisition Agreement with BankAtlantic"},"content":{"rendered":"<p><div id=\"grabDiv1767162\"><object id=\"GrabPlayer1767162\" width=\"542\" height=\"304\" type=\"application\/x-shockwave-flash\" align=\"middle\" data=\"http:\/\/player.grabnetworks.com\/swf\/GrabOSMFPlayer.swf?id=1767162&#038;content=vbdbb75e8bd4336193125968f49739c0ae3ad83ef&#038;tgt=grabnetworks\"><param name=\"quality\" value=\"high\"\/><param name=\"allowScriptAccess\" value=\"always\"\/><param name=\"allowFullScreen\" value=\"true\"\/><param name=\"menu\" value=\"false\"\/><param name=\"wmode\" value=\"transparent\"\/><param name=\"movie\" value=\"http:\/\/player.grabnetworks.com\/swf\/GrabOSMFPlayer.swf?id=1767162&#038;content=vbdbb75e8bd4336193125968f49739c0ae3ad83ef&#038;tgt=grabnetworks\"\/><\/object><\/p>\n<div id=\"overlay-adzone\" style=\"overflow:hidden; position:relative\"><\/div>\n<\/div>\n<p>A change in an acquisition agreement in the business world this morning. BB&#038;T Corporation announced in a press release an amendment to its November 1, 2011 agreement to acquire BankAtlantic. The core provisions of the original agreement will stay the same with BB&#038;T acquiring approximately $2.1 billion in loaned and $3.3 billion in deposits. BB&#038;T will pay an estimated $301 million above the net asset value of BankAtlantic. Under the terms of the modified agreement, BB&#038;T will assume BankAtlantic Bancorp&#8217;s obligations with respect to roughly $285 million of outstanding trust preferred securities. As a result, the companies have agreed to form a new limited liability company, which will receive about $424 million of loans and $17 million of real estate owned and other assets previously held by BankAtlantic.The companies expect the deal to close in the second quarter, subject to regulatory approvals.<\/p>\n<p><img src='http:\/\/cache.thenewsroom.com\/financial_news_network\/2012\/03\/14\/1_k3ynfmuh_thumb.jpg' \/><\/p>\n<p><!--post_img[http:\/\/cache.thenewsroom.com\/financial_news_network\/2012\/03\/14\/1_k3ynfmuh_preview.jpg]--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A change in an acquisition agreement in the business world this morning. BB&#038;T Corporation announced in a press release an amendment to its November 1, 2011 agreement to acquire BankAtlantic. The core provisions of the original agreement will stay the same with BB&#038;T acquiring approximately $2.1 billion in loaned and $3.3 billion in deposits. BB&#038;T &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/03\/14\/bbt-changes-acquisition-agreement-with-bankatlantic\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;BB&#038;T Changes Acquisition Agreement with BankAtlantic&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-28234","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=28234"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28234\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=28234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=28234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=28234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}