Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 190

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 190
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 respect to financial matters, its financial advisors, determines in good faith (x) that an acquisition proposal constitutes a superior proposal and that it would more likely than not result in a violation of its fiduciary duties under applicable law to continue to recommend in Cadence’s case the merger agreement and the merger and in Huntington’s case the issuance of Huntington common stock in connection with the merger or (y) in response to an intervening event that it would more likely than not result in a violation of its fiduciary duties under applicable law to continue to recommend, in Cadence’s case the merger agreement and the merger and in Huntington’s case the issuance of Huntington common stock in connection with the merger, then, prior to the receipt of the requisite Cadence vote or the requisite Huntington vote, as applicable, in submitting the merger agreement and the merger to its shareholders, the board of directors of Cadence or the board of directors of Huntington, as applicable, may withhold or withdraw or modify or qualify in a manner adverse to the Huntington Parties or Cadence, as applicable, the Cadence board recommendation or the Huntington board recommendation, as applicable, or may submit the merger agreement and the merger to its shareholders without recommendation (each, a “Cadence adverse recommendation change” or a “Huntington adverse recommendation change,” respectively) (although the resolutions approving the merger agreement as of the date of the merger agreement may not be rescinded or amended), in which event the board of directors of Cadence or the board of directors of Huntington, as applicable, may communicate the basis for its Cadence adverse recommendation change or its Huntington adverse recommendation change, as applicable, to its shareholders in the joint proxy statement/prospectus or an appropriate amendment or supplement thereto; provided that neither board of directors may take any actions under this sentence unless (i) it gives the other party at least three (3) business days’ prior written notice of its intention to take such action and a reasonable description of the event or circumstances giving rise to its determination to take such action (including, in the case of Cadence, in the event such action is taken by the board of directors of Cadence in response to a Cadence acquisition proposal, the latest material terms and conditions and the identity of the third party in any such Cadence acquisition proposal, or any amendment or modification thereof, or describe in reasonable detail such other event or circumstances) and (ii) at the end of such notice period, the relevant board of directors takes into account any amendment or modification to the merger agreement proposed by