Could be both WB & STI will be just two partners in a new bank with players like BK, ONE, PNC, FCN, etc. Add to that mix Mr. Buffett's GEICO and the Sun will rise high. Did I miss anybody else who might be at the big dance?
Not sure where the info about STI currently owning 8.2% of HIB comes from but that is not correct. Maybe their sh will benefit in the very near future but surely not because of this alleged but non-existent STI position w/HIB. Concerning STI/WB merger, have heard about this for many months, should of happened last year. Just one piece of a puzzle where the big pieces are fewer in number.
well my friend, this post I got from HIB board sums up all of your questions........try contacting the person yourself...
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HIB & Suntrust (STI) cashfrombanks Mar 27 1998 1:23PM EST
Suntrust Banks Inc., (STI) currently owns approx 8.2% of HIB's outstanding shares. There is certain weight in talk of STI being bought out by Wachovia. STI is currently trying to increase its position in HIB, thus making it more attractive to STI. The merger - STI & Wachovia will take place in the near future. Look for HIB to go along in a combined package deal. I have been involved in numerous bank deals, and I am well aware of the intricacies involved, thus it is naive to give exact dates/prices. This much I can assure you, HIB shareholders will benefit in the very near future.