The obvious answer is YES.If the acquirer of any company is perceived to be inexperienced or incompetent at integrating mergers,or paying to much relative to the potential revenue gains or cost savings,or the acquirer is dealing with other distracting issues or problems,or the acquirer is weaker financially and performance wise than other potential acquirers,or the acquirer's P/E is low relative to the acquired and other potential acquirers....then the full premium will never be reflected in the stock price...possibly at all.And even if it is initially,it may vanish in to thin air before you can sell your stock in the acquired company.BTW,because BBT has strengths in all these areas,their acquisitions have worked both to their benefit and to the benefit of the companies they have acquired.Yes,it does matter tremendously.
I disagree - unless you want to own the resultant stock (maybe you don't want to take the profit for tax reasons - always a dumb reason to make that particular "hold" decision, IMHO). Your reason for investing should be to obtain an acceptable return. Period. If somebody pays a "reasonable" price for BBT, then you shouldn't really care who buys them - your objective of obtaining a reasonable return on your investment has been met. If the new owners are poor managers, then drop the stock and buy a better one.
I think it's wonderful to be high on your stocks - but you can't get married to them. If BBT is bought by a real woofer, but you meet your investment goals - the fate of BBT as an investment vehicle has been sucessfully met. If you work there or bank there, the end result of your relationship may matter, but your investment objectives should not.
Hope that's not too cynical -just advice on investing from an old investor who road down the price of various stocks he "loved" over the years and finally learned his lesson.
The M & A market is definitely in the doldrums until the economy and the stock market pick up. As it should be. I doubt we'll see any major mergers until next year. Unless there's a really "cheap" deal, the kind you have to be very suspicious of. Remember when Wells Fargo picked up First Interstate "cheap" and all the problems that resulted.