Susquehanna Bancshares' stock surged 34% in premarket trade Wednesday, after the Lititz, Penn.-based bank said it agreed to be acquired by BB&T Corp. in a cash and stock deal valued at $2.5 billion. Under terms of the agreement, Susquehanna shareholders will get 0.253 of BB&T's stock and $4.05 in cash for each Susquehanna stock they own. Based on Tuesday's closing price of $38.33 for BB&T's stock, the deal would value Susquehanna's stock at $13.75, or a 39% premium to Tuesday's closing price of $9.90. BB&T expects pre-tax merger and integration costs of about $250 million, but targets annual costs savings of about $160 million from the deal. BB&T's stock was still inactive in premarket trade.
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