BB&T Corp. said Friday that it has closed its $145.5 million deal for Scott & Stringfellow Financial Inc. of Richmond, Va.

The asset manager's stockholders get one share of BB&T for each share of Scott & Stringfellow. The deal is valued at $38.25 per Scott & Stringfellow share.

Scott & Stringfellow, which manages about $13 billion of assets, is to be folded into Craigie Inc., the section 20 unit of $37 billion-asset BB&T, said Steven C. DeLaney, director of capital markets at Scott & Stringfellow.

The unit is to be called Scott & Stringfellow Inc. and be operated separately from BB&T Investment Services Inc.

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