That's really the issue. If not SunTrust, THEN what else? Instead of SunTrust, do you buy another bank? If so, which one? How does it stack up to SunTrust? Or, do you build a franchise de novo? THAT costs a ton of money. And takes a long time. No comparison. If Jamie wants to be in the SE, he has limited options and none as good as SunTrust.
Dr Bob, you finally said something that made sense. STI couldn't sell at these levels. They aren't worth 50 dollars a share in this market and my guess they aren't even worth 40 dollars a share. STI is way over valued and needs to come down to reality. Their books are so far out of whack that Morgan Stanley wouldn't even consider paying 15.00 a share. BearStearns is worth more than STI. ! .
I don't see how it can be avoided - continued poor performance across all business lines.
A 70 per share offer could be placed right out here with the shareholders - I would take it in a second.
A major player could simply make the offer and not even approach Atlanta as those on the top floors don't have a track record of running a good business and likely would be confused by any meaningful discussions like returning some shareholder value?