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SunTrust Banks Inc. ($175.86 billion) on Nov. 2 announced that it has signed an agreement to acquire Gainesville, Ga.-based GB&T Bancshares Inc. ($2.00 billion) in an all-stock transaction, which SNL values at approximately $153.7 million, or $10.80 per share.
Under the terms of the deal, SunTrust will exchange 0.1562 share of its common stock for each share of GB&T. SNL calculated the deal value based on SunTrust's day-before closing price of $69.13 per share, 14,230,796 GB&T shares outstanding as of Oct. 31 and 741,055 options...