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HU3 - Huntington Bancshares Inc News Story

€8.2 0.0  0.0%

Last Trade - 18/09/20

Sector
Financials
Size
Large Cap
Market Cap £7.63bn
Enterprise Value £15.62bn
Revenue £3.62bn
Position in Universe 118th / 1040

BRIEF- Firstmerit Corporation to merge into Huntington in cash and stock deal

Tue 26th January, 2016 5:12am
Jan 26 (Reuters) - Huntington Bancshares Inc  HBAN.O : 
 * Ohio-based Firstmerit Corporation parent company of Firstmerit Bank will   merge into Huntington in stock and cash transaction 
 * Total transaction value is approximately $3.4 billion, including outstanding options and other equity-linked securities 
 * Says expects the acquisition to be accretive to earnings per share in 2017 
 * Says acquisition is about 10% accretive to earnings per share in 2018 
 * Shareholders of FirstMerit Corp to receive 1.72 shares of Huntington common  stock and $5.00 in cash for each share of Firstmerit 
 * Says will also expand its operations into new markets of Chicago and   Wisconsin 
 * Deal expected to be completed in Q3 2016, after regulatory approvals and   approval of shareholders of both cos 
 
* Source text for Eikon  urn:newsml:reuters.com:*:nMKWrcqd4a 
 
* Further company coverage  HBAN.O  ((Bengaluru Newsroom; +1 646 223 8780))
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