Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 192

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 192
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 financial advisors and outside legal counsel, and taking into account all legal, regulatory and other aspects of the proposal and the person making the proposal, is more favorable to Cadence and its shareholders from a financial point of view than the merger (including, as the case may be, any revisions to the terms of the merger agreement proposed by Huntington in response to such proposal or otherwise) and is reasonably likely to receive all required governmental approvals and financing on a timely basis and is otherwise reasonably capable of being completed on the terms proposed, or (ii) in the case of Huntington, any bona fide written Huntington acquisition proposal that the board of directors of Huntington has determined in good faith, after consultation with its financial advisors and outside legal counsel, and taking into account all legal, regulatory and other aspects of the proposal and the person making the proposal, is more favorable to Huntington and its shareholders from a financial point of view than the merger (including, as the case may be, any revisions to the terms of the agreement proposed by Cadence in response to such proposal or otherwise) and is reasonably

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likely to receive all required governmental approvals and financing on a timely basis and is otherwise reasonably capable of being completed on the terms proposed; provided, in each case, that for purposes of the definition of “superior proposal,” the references to “25%” in the definition of Cadence acquisition proposal or Huntington acquisition proposal will instead refer to “50%”. Additionally, for purposes of the merger agreement, “intervening event” means any material effect, change, circumstance, event or occurrence that (i) was not known to or reasonably foreseeable by the board of directors of Cadence or Huntington, as the case may be, on the date of the merger agreement (or if known, the material consequences of which were not known to or reasonably foreseeable by the board of directors of Cadence or Huntington, as the case may be, as of the date of the merger agreement), and (ii) that does not relate to or involve (a) any Cadence acquisition proposal or Huntington acquisition proposal, (b) any effect, change, circumstance, event or occurrence relating to the other party or any of its subsidiaries unless it would reasonably be likely to have, either individually or in the aggregate, a material adverse effect on such other party, or (c) the mere fact, in and of itself, of Cadence or Huntington meeting, exceeding or failing to meet earnings projections or internal financial forecasts or