HBAN - Analysts' views on Huntington Bancshares' deal for TCF spans pricey to reasonable

Jefferies analyst Ken Usdin sees Huntington Bancshares' ([[HBAN]] -5.0%) agreement to acquire TCF Financial ([[TCF]] +3.7%) for almost $6B in stock looks pricey while Evercore ISI analyst John Pancari sees the price tag as "reasonable."As is usual, the acquirer slides after the deal was announced, as issuing new shares for the deal will dilute current holders' stakes, and the stock of the company to be acquired rises. HBAN falls 5.0% in early afternoon trading in New York and rises 3.7%.Five-day stock performance for TCF, HBAN and the SPDR S&P Regional Banking ETF:Both analysts see the advantage of HBAN building up its Midwest U.S. presence with Usdin calling it a "formidable" regional and Pancari describing the deal as "a substantial step in gaining much-needed scale in the competitive Midwest markets."Usdin points to an implied 2.2x tangible book value on ~$9B implied TCF market value."The 100% stock deal implies that HBAN, with $13.2B of market

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Analysts' views on Huntington Bancshares' deal for TCF spans pricey to reasonable