Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 87

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 87
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 Dallas/Fort Worth and Houston, Texas.

On July 21, 2025, at the weekly meeting of the Executive Management Committee, Mr. Rollins led a discussion around strategic options for Cadence, including the possibility of a business combination between Cadence and another financial institution, including Huntington. Mr. Rollins led the Executive Management Committee through a discussion of the evolving regulatory environment and potential strategic options, including (1) an acquisition by a larger bank, (2) combining with a bank of similar size, (3) acquisitions of smaller banks or (4) relying on organic growth. Among other things, Mr. Rollins reviewed potential acquisition targets, merger partners and large bank acquirers, including potential merger partners’ geographic and business model fit with Cadence and certain preliminary financial information about a business combination. Mr. Rollins continued to confer with, and provide updates to, the Executive Management Committee regarding the ongoing review of strategic options and a potential transaction with Huntington. A potential transaction with Huntington was further discussed at meetings of the Executive Management Committee in August, September and October.

On July 22, 2025, Mr. Rollins led a discussion with the Cadence Board around the possibility of a business combination between Cadence and another financial institution, including Huntington. Mr. Rollins presented to the Cadence Board on the same topics he had discussed with the Executive Management Committee at its July 21, 2025 meeting. Mr. Rollins noted that Cadence and Huntington would continue to progress their mutual due diligence of each other and that the parties would seek to execute a mutual confidentiality agreement prior to proceeding to a more detailed stage of due diligence.

Over the course of July and August, representatives of each of Huntington management, the Huntington Board, Cadence management, and the Cadence Board met to familiarize themselves with each other’s institution, including their business approaches and the markets in which they operate.

On August 8, 2025, Cadence engaged Sullivan & Cromwell LLP (“Sullivan & Cromwell”) to assist in providing legal and regulatory advice regarding a potential strategic transaction.

On August 12, 2025, Huntington and Cadence executed a mutual confidentiality agreement in order to facilitate more detailed discussions of a potential business combination and reciprocal due diligence efforts. The confidentiality agreement contained a standstill provision binding on Huntington. Cadence did not enter into any exclusivity arrangements with Huntington. Starting on August 12, 2025, Cadence made available to Huntington, and starting on October 6, 202