BB&T Acquires McGriff, Seibels For $354 Million
NU Online News Service, Nov. 11, 3:12 p.m. EST?BB&T Insurance Services brokerage in Raleigh, N.C. said it plans to buy McGriff, Seibels & Williamson of Birmingham, Ala. for $354 million in cash and stock.
The acquisition of the Alabama firm is slated for completion in the first quarter of next year. BB&T said it is currently the eighth biggest U.S. broker and the purchase will make it the sixth largest insurance broker in the nation.
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