Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 65

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 65
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 proposals with respect to, engage or participate in any negotiations with any person concerning, provide any confidential or nonpublic information or data to, or have or participate in any discussions with, any person relating to, any acquisition proposal, subject to certain exceptions, or, during the term of the merger agreement, approve or enter into any letter of intent, memorandum of understanding, agreement in principle, acquisition agreement, merger agreement or other similar agreement relating to any acquisition proposal.

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The merger agreement further provides that, during the twelve (12)-month period following the termination of the merger agreement under specified circumstances, including the entry into a definitive agreement or consummation of a transaction with respect to an alternative acquisition proposal, the Huntington Parties or Cadence may be required to pay to the other party a cash termination fee equal to $296 million. See the section entitled “The Merger Agreement—Termination Fee” beginning on page 119 .

These provisions could discourage a potential third-party acquirer that might have an interest in acquiring all or a significant portion of the Huntington Parties or Cadence from considering or proposing that acquisition.

The merger agreement subjects the Huntington Parties and Cadence to certain restrictions on their respective business activities prior to the effective time .

The merger agreement subjects the Huntington Parties and Cadence to certain restrictions on their respective business activities prior to the effective time. Subject to certain specified exceptions, the merger agreement obligates Cadence to, and to cause each of its subsidiaries to, conduct its business in the ordinary course in all material respects and use reasonable best efforts to maintain and preserve intact its business organization and advantageous business relationships. These restrictions could prevent the Huntington Parties and Cadence from pursuing certain business opportunities that arise prior to the effective time. See the section entitled “The Merger Agreement—Covenants and Agreements—Conduct of Businesses Prior to the Completion of the Merger” beginning on page 107 .

The opinions of Huntington’s and Cadence’s financial advisors delivered to the parties’ respective boards of directors prior to the signing of the merger agreement will not reflect changes in circumstances occurring after the date of such opinions .

Each of the opinions of Huntington’s and Cadence’s financial advisors was delivered on, and dated, October 26, 2025. Changes in the operations and prospects of Huntington and Cadence, general market and economic conditions and other factors which may be beyond the control of Huntington and Cadence may have altered the value of Huntington or Cadence or the prices of shares