Carolina firm cashes in on £2bn bank merger

Bill Davis North Carolina firm Womble Carlyle Sandridge & Rice has won a prestigious role acting opposite Wall Street legend Wachtell Lipton Rosen & Katz on key banking client BB&T’s $3.38bn (£2.06bn) acquisition of First Virginia Banks.

The deal saw BB&T offer $47.09 (£29.43) for each First Virginia share, handing the bank control of its eight community banks and 364 branch offices and creating the 11th-largest financial institution in the US.

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