Sandler O'Neill & Partners in Sale of BankAtlantic to BB&T Corporation

Cleary Gottlieb represented Sandler O’Neill & Partners as financial advisor to BankAtlantic Bancorp, in connection with the sale of BankAtlantic Bancorp’s wholly owned bank subsidiary, BankAtlantic, to BB&T Corporation. The deal was announced November 1. BB&T will pay approximately a $301 million premium plus net asset value of BankAtlantic at close.