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.
Yes, I really care who buys BB&T. I look at my BB&T investment as a safe investment that has grown and paid good dividends over the past 20 odd years. It has helped me to enjoy retirement. I would not like to see someone purchase BB&T that will not continue on the same course.