Shareholders OK Huntington Acquiring FirstMerit
COLUMBUS, Ohio – In separate meetings Monday, shareholders of Huntington Bancshares Inc. and First Merit Corp. approved the acquisition of the latter by the former, Huntington announced after markets closed Monday.
FirstMerit shareholders met in Akron, Huntington shareholders in Columbus.
In its Form 8K filed Tuesday with the Securities and Exchange Commission, Huntington reported that 576.7 million votes were cast for the acquisition, 5.3 million against and 3.5 million abstained.
Pro forma, Huntington would become a bank holding company with nearly $100 billion in assets and 750 offices across six states in the Midwest. It had $73 billion at the end of the first quarter, FirstMerit $26.1 billion.
Pending remaining regulatory approvals and a quiet period, the agreement between the two providers of financial services should close by Sept. 30, Huntington said.
Copyright 2023 The Business Journal, Youngstown, Ohio.