M&A Deal Summary

Huntington Bancshares Acquires FirstMerit

On January 26, 2016, Huntington Bancshares acquired financial services company FirstMerit for 3.4B USD

Acquisition Highlights
  • This is Huntington Bancshares’ 6th transaction in the Financial Services sector.
  • This is Huntington Bancshares’ 2nd largest (disclosed) transaction.
  • This is Huntington Bancshares’ 5th transaction in the United States.
  • This is Huntington Bancshares’ 3rd transaction in Ohio.

M&A Deal Summary
Date 2016-01-26
Target FirstMerit
Sector Financial Services
Buyer(s) Huntington Bancshares
Deal Type Merger
Deal Value 3.4B USD
Advisor(s) Sandler O'Neill + Partners LP (Financial)
Sullivan & Cromwell (Legal)

Target

FirstMerit

Akron, Ohio, United States
FirstMerit Corporation is a diversified financial services company headquartered in Akron, Ohio, with assets of approximately $25.5 billion as of December 31, 2015, and 366 banking offices and 400 ATM locations in Ohio, Michigan, Wisconsin, Illinois and Pennsylvania. FirstMerit provides a complete range of banking and other financial services to consumers and businesses through its core operations. Principal affiliates include: FirstMerit Bank, N.A. and FirstMerit Mortgage Corporation.

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Buyer(S) 1

Buyer

Huntington Bancshares

Columbus, Ohio, United States
Category Company
Founded 1866
Sector Financial Services
Employees19,719
Revenue 7.4B USD (2023)
DESCRIPTION

Huntington Bancshares is a regional bank holding company that provides full-service commercial, small business, and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and service programs; and other financial products and services. Huntington Bancshares was founded in 1866 and is based in Columbus, Ohio.

DEAL STATS #
Overall 6 of 7
Sector (Financial Services) 6 of 7
Type (Merger) 1 of 2
State (Ohio) 3 of 3
Country (United States) 5 of 6
Year (2016) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-24 Macquarie Equipment Finance

Toronto, Ontario, Canada

Macquarie Equipment Finance, Inc. is a provider of specialized financing and asset management solutions for enterprises, technology manufacturers and suppliers worldwide with capabilities to serve the needs of major multinational organizations through small and midsize businesses.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-11 Huntington Bancshares - Wisconsin branch banking operations

Wisconsin, Antigua and Barbuda

Huntington Bancshares - Wisconsin branch banking operations comprise approximately $850 million in deposits, $134 million in loans, and 32 branch locations.

Sell -
Mergr

Product

Company

Legal