Huntington Bancshares and Unizan Financial Corp. Complete Merger
March 01 2006 - 8:00AM
PR Newswire (US)
COLUMBUS, Ohio, March 1 /PRNewswire-FirstCall/ -- Huntington
Bancshares Incorporated (NASDAQ:HBAN)(http://www.huntington.com/)
and Canton, Ohio-based Unizan Financial Corp. (NASDAQ:UNIZ) today
announced that their merger, originally announced January 27, 2004,
has been completed. Under the terms of the amended merger agreement
announced November 11, 2004, Unizan shareholders of record as of
the close of trading on February 28, 2006, will receive 1.1424
shares of Huntington common stock for each share of Unizan. Based
on the $24.05 closing price of Huntington's common stock on
February 28, 2006, this represents a price of $27.47 per Unizan
share, and values the transaction at $610 million. "We are very
pleased to announce the completion of this merger," said Thomas E.
Hoaglin, chairman, president, and chief executive officer. "We look
forward to a smooth transition for all Unizan customers. System
conversions are scheduled for late April, which is also when signs
on the Unizan banking offices will be changed to Huntington. Unizan
customers can immediately access more than 900 Huntington ATMs free
of charge. We also welcome the former Unizan associates to the
Huntington family and are looking forward to their continued local
leadership." Forward-looking Statement This press release contains
certain forward-looking statements, including certain plans,
expectations, goals, and projections, which are subject to numerous
assumptions, risks, and uncertainties. A number of factors,
including but not limited to those set forth in Huntington's Annual
Report on Form 10-K for the year ended December 31, 2005, and other
factors described from time to time in Huntington's other filings
with the Securities and Exchange Commission, could cause actual
conditions, events, or results to differ significantly from those
described in the forward-looking statements. All forward-looking
statements included in this news release are based on information
available at the time of the release. Huntington assumes no
obligation to update any forward-looking statement. About
Huntington Huntington Bancshares Incorporated is a $35 billion
regional bank holding company headquartered in Columbus, Ohio.
Through its affiliated companies, Huntington has more than 140
years of serving the financial needs of its customers. Huntington
provides innovative retail and commercial financial products and
services through more than 380 regional banking offices in Indiana,
Kentucky, Michigan, Ohio, and West Virginia. Huntington also offers
retail and commercial financial services online at huntington.com;
through its technologically advanced, 24-hour telephone bank; and
through its network of almost 1,000 ATMs. Selected financial
service activities are also conducted in other states including:
Dealer Sales offices in Arizona, Florida, Georgia, North Carolina,
Pennsylvania, South Carolina, and Tennessee; Private Financial and
Capital Markets Group offices in Florida; and Mortgage Banking
offices in Maryland and New Jersey. International banking services
are made available through the headquarters office in Columbus and
an office located in the Cayman Islands and an office located in
Hong Kong. DATASOURCE: Huntington Bancshares Incorporated CONTACT:
Investors & Analysts, Jay Gould, +1-614-480-4060, or Susan
Stuart, +1-614-480-3878, or Media, Jeri Grier-Ball,
+1-614-480-5413, or Maureen Brown, +1-614-480-4588, all of
Huntington Bancshares Incorporated; or Investors & Analysts,
Roger Mann, +1-330-438-1118, or Media, Sandy Upperman,
+1-330-438-4858, both of Unizan Financial Corp. Web site:
http://www.huntington.com/
Copyright
Unizan Financial (NASDAQ:UNIZ)
Historical Stock Chart
From Jul 2024 to Aug 2024
Unizan Financial (NASDAQ:UNIZ)
Historical Stock Chart
From Aug 2023 to Aug 2024