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BB&T Corporation Message Board

  • normlasky normlasky Jul 26, 2008 2:23 PM Flag

    BBT Shelf Registration - Mr. Dickens

    It's a certainty that bbt did not file this shelf registration because its ongoing operations need more capital. Bbt biz model is doing very well. They easily have enough money to fund the dividend and continue to grow their loans by almost double digit annually. And the loan losses are well provided. Last quarter they accrued at 140 bsp and you know in the short term the provision will revert back to 50 bsp. Bbt is a very good underwriter.

    So what's the registration for? I believe the shelf registration is for 2 purposes:

    1. Issue a large amount of preferred stock to buy back common shares up to $40 per share which is the approximate break even point. There are 82 million bbt shares short or 15% of the float. Such an announcment could easily push the share price to $35 with only a minimal share buyback by bbt. If bbt has $2 billion of proceeds from the sale of preferred stock, the shorts will cave in unless they wish to extend their losses.

    2. Once share price gets up to $35, I would make a tender offer for rf. Maybe something like .33 shares of bbt for 1 share of rf.

    The cost reduction which could be realized through a merger of bbt and rf is absolutely awesome. Their market shares are #1 (bbt) and #3 (rf) in their territories. (wfc is #2 but operates outside bbt and rf territories).

    A merger would probably increase market share to 30%. Think of all the additional biz bbt could realize by selling their insurance products for example through rf or bbt using mk. The list of synergies is very long.

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    • Oops, you screwed up fat boy.

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    • A few securities of all types setting on the shelf waiting for the right opportunity? Seems like prudent management to me to prepare for opportunities apt to develop over the next few months. Go BB&T.

    • Amen norm!

    • Believe the shelf registration is all about selling 2.4 million shares to the BB&T pension fund. I could be wrong.

      • 1 Reply to ayscuew
      • "Believe the shelf registration is all about selling 2.4 million shares to the BB&T pension fund. I could be wrong."

        Asycuew - This transaction already was completed on tuesday. Has nothing to do with the shelf registration. Prior to this shelf registraion, bbt has authorization to issue 1 billion shares of common. Excluding the 2.4 million shares to the pension fund, outstanding shares were 546 million.

        Imo, the shelf registration is an indication of something BIG happening in the near term.

    • Nice try numb nuts as read this from the filing. They are going to issue common shares, preferred shares and warrants which can turn into common shares. CAN YOU SAY DILUTION you morons. Yeah they are going to issue more shares to raise capital in order to buy back shares. ROFLMAO

      BB&T Corp. (BBT) on Friday registered with the Securities and Exchange
      Commission to sell from time to time an indeterminate amount of debt
      securities, common stock, preferred stock, depositary shares, warrants, stock
      purchase contracts and units.

 
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