Huntington Bancshares (HBAN) were inching higher in late Friday trading after the bank holding company’s asset management subsidiary sold $421 million in fixed-income assets to Federated Investors Inc. (FII).
FII intends to reorganize the acquired assets from five HBAN-managed mutual funds into five funds it operates with similar investment objectives. A Q2 closing is expected.
HBAN shares were up 0.1% at $9.58 apiece, climbing a penny in after-hours trading after finishing today’s regular session with a 0.4% decline. FII shares were down a penny in tonight’s after-market at $26.91 a share.
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