Does anyone have any insight into the sale of Truist insurance. Sounds like today's interest rate environment is making it difficult to get a deal done. Would expect further right sizing regardless
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Mayo will advise Bill at the earnings call today what his next move concerning insurance should be.
Just one more thing the BOD has sat back and watched BillyBob completely bungle. This bank is run the way textile companies were run in the late nineties and early two thousands. The fate is sealed and the people at the top are the last to realize it.
There’s no rush. StonePoint figured out that the price goes down every day they let Truist run it.
Imagine watching this clown show from the sidelines. Would you be eager to buy?
Hits to the potential buyer?
When you say buyer… do you mean that Stone Point might not be buying the remaining 80%?
We have some good contacts there. There is a negotiation that has been ongoing with a buyer, but it is taking time on the financing