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HU3 - Huntington Bancshares Inc News Story

€7.7 -0.3  -3.8%

Last Trade - 22/09/20

Large Cap
Market Cap £7.27bn
Enterprise Value £15.32bn
Revenue £3.65bn
Position in Universe 118th / 1041

UPDATE 1-Huntington Bancshares wins antitrust approval for bank buy

Wed 13th July, 2016 6:47pm
(Adds comment from Huntington) 
    WASHINGTON, July 13 (Reuters) - Huntington Bancshares Inc 
 HBAN.O , which owns Huntington National Bank and has branches 
in six states, has won U.S. antitrust approval to buy FirstMerit 
Corp  FMER.O , the Justice Department said on Wednesday. 
    To win approval, they agreed to sell 13 bank branches in 
northeastern Ohio, two in Ashtabula county and 11 in Stark 
County, the department said in a statement. 
    The deal, estimated to be worth about $3.4 billion, must 
still be approved by the Board of Governors of the Federal 
Reserve System and the Office of the Comptroller of the 
    "We will announce the buyer for these (divested) branches 
and their assets following the determination by the Department 
of Justice of the buyer's competitive suitability, which 
determination is still pending," Brent Wilder, a spokesman for 
Huntington said in an email statement. "The divestiture of the 
branches to the buyer is also subject to the regulatory approval 
of the relevant banking agency." 
    Ohio-based Huntington is in Indiana, Kentucky, Michigan, 
Ohio, Pennsylvania and West Virginia while FirstMerit is in 
Illinois, Michigan, Ohio, Pennsylvania and Wisconsin. 
 (Reporting by Diane Bartz; Editing by David Gregorio and Diane 
 ((; 1 202 898 8313;)) 
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