John Allison will get an offer he cannot refuse. The franchise is too valuable to a bank from outside the south. The middle atlantic is one of the crown jewel for any bank serious about being there in the end.
The CEO can't just say I do not feel like selling. His ultimate responsibility lies with the shareholders. This fiduciary responsibility goes beyond anything he owes employees or community. As premiums get "stupider and stupider" it will be harder for Allison to just say no. Besides, with his rep in the industry, he doesn't even have to worry about losing his power. Probably would be heir apparent to whichever older CEO bought him out.
His fiduciary responsibility is to the owners of BB&T. Who are they?
Shareholders of course.
Who are they? Instituions, individuals, employees, you, me...
My question Mr. Readum is has John Allison received a mandate to sell the bank from the shareholders?
Of course not.
Mr. Allison is expected to grow the bank and provide nice returns to the shareholders. And he has done this. Mission accomplished. The stock price is indicative that this approach is working.
By selling BBT, we the shareholders are being notified that our future will be gambled with another company unless we sell our shares. Thus, Sun Trust-Crestar. Poor Crestar shareholders. What uncertainty when there shares had just kept going up. This could happen to BBT shareholders.
But we are happy. Therefore, Mr. Allison is obligated to continue on his path that we have sent him on. Nobody is disputing otherwise right now.