Suntrust to grow with purchase of Crestar

Article Abstract:

Crestar Financial Corp. will be acquired by Suntrust Banks Inc. for $9.5 billion in stock in a deal, once approved by Crestar shareholders and government regulators, that will create the country's 10th-largest bank holding company, with assets of $87.6 billion. Suntrust will gain a strong presence in the fast-growing markets of Virginia, Washington, DC and Maryland in the deal with Richmond-based Crestar. Industry analysts said the deal sends an important message to rivals, such as First Union Corp. and Nationsbank, that Suntrust is a major player in determining its market competitiveness.

Comment:

Crestar Financial Corp. will be acquired by Suntrust for $9.5 bil in stock

United States, Commercial Banks, Commercial Banking, Virginia, Asset sales & divestitures, Acquisitions & mergers, Company Planning/Goals, SunTrust Banks Inc., Article

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Forced to compete, Japan becomes a global power

Article Abstract:

In the telecommunications race, or more specifically, the cellular phone race, the most unexpected candidate has come out on top...Japan. Their jump on the United States and Europe is so big that they will soon be ready to introduce cellular technology with capabilities in data transmission and video. Let's see if we can top that!

Japan, Radio & TV communications equipment, Market share, Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing, Cellular Mobile Tel Equip, Wireless telephones, Technology development, Cellular telephone equipment industry

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