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The Daily Journal’s Dealmakers Column Features Two O'Melveny DealsApril 12, 2016
The April 12, 2016, edition of Daily Journal’s Dealmakers column featured two O’Melveny deals. The publication noted the firm advised BB&T Corp. in its now completed US$1.8 billion acquisition of National Penn Bancshares Inc. and Centrus Energy Group in its adoption of a net operating loss stockholder rights plan.
The Daily Journal observed that BB&T’s “acquisition, which included 126 banking offices in Pennsylvania, New Jersey and Maryland, significantly expanded BB&T’s footprint in the Mid-Atlantic and gave it about 2,265 total financial centers with $9.6 billion in assets and $6.7 billion in deposits at the end of last year.” The O’Melveny team was led by partner Paul Scrivano.
Of the Centrus deal, the Daily Journal reported, “the rights plan is intended to reduce the likelihood of takeover or ownership change through the purchase of the company’s common stock.” The O’Melveny team was led by partners Brophy Christensen, Eric Sibbitt, and Paul Scrivano.