FirstMerit Corporation is a financial services company headquartered in Ohio. As of June 2016, it had hundreds of banking offices and ATM locations in Ohio, Michigan, Wisconsin, Illinois and Pennsylvania.

According to the Complaint, on January 26, 2016, FirstMerit announced that it had entered into a definitive merger agreement (the "Merger Agreement"), pursuant to which Merger Sub will merge with and into FirstMerit, with the Company surviving and thereafter merging with and into Huntington, with Huntington surviving the Proposed Transaction. Pursuant to the terms of the Merger Agreement, FirstMerit stockholders will receive 1.72 shares of Huntington common stock and $5 per share in cash for each share of FirstMerit common stock that they own (collectively, the "Merger Consideration"). The Merger Consideration does not include a collar.

The Complaint alleges the Proposed Transaction is the result of a flawed and unfair process marred by conflicts of interest, not the least of which is that the Company’s Chairman of the Board, President, and Chief Executive Officer and several of the Company’s directors stand to make millions in connection with the Proposed Transaction.

On September 28, 2016, the parties filed a Stipulation of Settlement. Preliminary approval was granted on October 31. Final approval was granted February 2.