On or around 02/02/2017 (Date of order of final judgment)
Filing Date: February 26, 2016
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 (“CEO”) 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.
Company & Securities Information
Defendant: FirstMerit Corporation
Industry: Money Center Banks
Headquarters: United States
Ticker Symbol: FMER
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
Mary H. Wojno, et al. v. FirstMerit Corporation, et al.