Unfortunately, there is an old saying that comes to mind here. My father used to say it. It was: "If you don't deal with reality, then reality deals with you."
SunTrust's hostile bid for WB was an act of total desperation. That's what it was.
Having made it, as RDM points out, and then not following up with a higher bid, made no sense at all.
The WB deal should have been put together years ago. That failure doomed SunTrust, together with current market conditions, low rates and margins, etc.
Either SunTrust management negotiates a deal soon or there will be an offer made directly to the shareholders. A $75 a share offer could not be turned down by STI management because the shareholders would overrule their decision in my opinion.
Dr. Bob, started reading the board tonight and must say I have to agree with your comments concerning STI for sale. For the record, I have held stock in suntrust for several years having had Crestar stock before that. STI will need to make a move soon. Consolidation in the banking industry is inevitable. The Wachovia takeover was, IMO, a last gasp at aquisition, and poorly planned. Holding......