Could the STI Classic Funds be getting a new owner sometime soon? Last week rumors swept the Street that SunTrust Banks Inc. was in play. Shares in the stock traded higher on Thursday and closed down on Friday.

The rumors were bolstered by a sharp increase in options trading around the bank's shares.

A spokesperson for SunTrust told Reuters that the bank never comments on merger speculation."

If the bank does change hands, it is likely that the buyer will already have a fund unit. The one problem with the rumors is that they did not include a favorite to buy the nation's seventh largest bank. 

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