Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 95

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 95
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. Representatives of Wachtell Lipton reviewed for the directors the final terms of the proposed merger agreement and other transaction documents. Members of Huntington management discussed the expected timeline and communications plan for the proposed transaction, as they had previously done. Following further discussion, during which the directors considered the matters reviewed and discussed at that meeting and all prior meetings, including the factors described under the section of this joint proxy statement/prospectus entitled “—Huntington’s Reasons for the Merger; Recommendation of the Huntington Board of Directors,” the Huntington Board, unanimously determined that the merger, the merger agreement and the other transactions contemplated by the merger agreement were advisable and fair to and in the best interests of Huntington and its shareholders and declared it advisable to enter into the merger agreement, and unanimously adopted and approved the merger agreement, the merger and the other transactions contemplated by the merger agreement. In the evening of October 26, 2025, following the meetings of the Huntington Board and the Cadence Board, Huntington and Cadence executed the merger agreement. The transaction was announced in the morning of October 27, 2025, in a press release jointly issued by Huntington and Cadence. Huntington’s Reasons for the Merger; Recommendation of Huntington’s Board of Directors In reaching its decision to adopt and approve the merger agreement, the merger and the other transactions contemplated by the merger agreement, and to recommend that its shareholders approve the issuance of Huntington common stock pursuant to the merger agreement, the Huntington board of directors evaluated the merger agreement, the merger and the other transactions contemplated by the merger agreement in consultation with Huntington’s management, as well as Huntington’s financial and legal advisors, and considered a number of factors, including the following factors:

| • | each of Huntington’s and Cadence’s business, Huntington’s business following the merger, operations, financial condition, asset quality, earnings, and prospects. In reviewing these factors, including the information obtained through due diligence, the Huntington board of directors considered that Cadence’s business and operations and risk profile complement those of Huntington, and that the merger and the other transactions contemplated by the merger agreement would result in a combined bank with an expanded distribution and scale that would position Huntington to serve an expanded customer base through a distinctive customer experience; |

| • | the strategic rationale for the merger, including that, together with the recently completed acquisition of Veritex Community Bank, it will provide Huntington with the fifth largest deposit market share in Dallas and Houston, as well as the eighth largest deposit market share across the State of Texas