Huntington Bancshares to buy FirstMerit

Huntington Bancshares Inc. (Nasdaq: HBAN) will pay approximately $3.4 billion in cash and stock to acquire FirstMerit Corp. (Nasdaq: FMER). Shares of Huntington Bancshares tumbled 75 cents to close at $8.05 while FirstMerit stock surged $2.82 to close at $18.19.