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King is right. Comerica paid much. The merger will reduce Comerica's TBV by over 8%.Comerica is probably too big to be a merger target for BBT. Think they would not want to buy anything larger than 20B in assets
You may be right about the size, but I doubt it. The combined entity (CMA and SBIB) would be $60b assets, $43b loans. That is a size that could be integrated. After all, Colonial was $20b, and that went smoothly.
60B is 3 times more than 20B(and over a third of BBT's assets) and the government wouldn't be backstopping potential losses.Plus, CMA would want a premium that dilute BBT's shareholders.