Huntington Anticipates $46.2M Gain From Offer

COLUMBUS, Ohio (AP) — Huntington Bancshares Inc. said Friday that it will likely record a $46.2 million gain from its previously announced cash tender offer, which will likely be used to help repay federal bailout money.

The regional bank, which received a $1.4 billion bailout as part of the Treasury's Department's Troubled Asset Relief Program, has implemented a few public stock offerings recently to help raise capital.

Huntington said $166.3 million of the outstanding trust-preferred securities were validly tendered for a purchase price of approximately $96.2 million. The company launched the tender offer in May. ...