Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 91

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 91
---
 and representatives of Evercore presented an overview of Cadence and preliminary prospectives regarding certain pro forma financial implications of the proposed transaction with Cadence. Representatives of Evercore also discussed certain observations regarding trading dynamics between banks viewed as buyers and sellers following the announced strategic transaction between Fifth Third Bancorp and Comerica Incorporated. Representatives of Wachtell Lipton discussed the bank regulatory environment and the timeline for obtaining the requisite regulatory approvals for the potential transaction with Cadence. Following these discussions the Huntington Board expressed its support for continuing discussions with Cadence regarding a potential transaction.

On October 20, 2025, the Executive Management Committee held a meeting with representatives of KBW and Sullivan & Cromwell in attendance. At the meeting, Mr. Rollins and other members of the Executive Management Committee presented on reverse due diligence matters, noting no notable matters of concern.

On October 21, 2025, the Cadence Board held a meeting to discuss the potential transaction with Huntington, with all members of the Executive Management Committee, and representatives of KBW and Sullivan & Cromwell in attendance. Prior to the meeting, a variety of presentation materials—including updated financial metrics and preliminary financial analyses from KBW reflecting the current market environment, an overview of the executive compensation arrangements, an outline of the proposed merger agreement, prepared by Sullivan & Cromwell, and a draft Huntington investor deck—had been made available to the Cadence Board. Mr. Rollins noted at the outset that the purpose of this meeting was not to approve a transaction, and that a special meeting would be called to vote on the proposed transaction. Mr. Rollins then updated the Cadence Board on discussions between Huntington and Cadence and their respective advisors since the October 10, 2025 Board meeting. He reported on, among other things, process and timing and regulatory considerations. Representatives of Sullivan & Cromwell then presented on the directors’ fiduciary duties and other relevant considerations in evaluating the proposed transaction and outlined the expected timeline and process for obtaining the requisite regulatory approvals. The Cadence Board asked a number of questions regarding, among other things, the regulatory process. The meeting next addressed Cadence’s reverse due diligence process and findings, with Ms. Shanna Kuzdzal, Cadence’s Senior Executive Vice President and Chief Legal Officer presenting. Representatives of KBW reviewed financial matters relating to the transaction with Huntington, including pro forma financial and market capitalization information. There was also a discussion of potential outcomes, including the expected financial benefits of the transaction relative to Cadence’s standalone prospects