Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 92

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 92
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, the Cadence Board held a call to discuss, among other matters, the proposed transaction with Huntington, with members of the Executive Management Committee in attendance. Mr. Rollins provided the Cadence Board with updated financial information relating to changes in the market environment since the September 5, 2025 meeting. Mr. Rollins noted, among other things, that Cadence’s share price had

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experienced significant upward movement following the announcement of a merger between Fifth Third Bancorp and Comerica Incorporated and that Huntington’s stock had declined. This reflected general price movements of bank stocks viewed as buyers and sellers. Mr. Rollins also noted that KBW would be updating certain financial metrics reviewed with the Cadence Board to reflect the recent share price movements of Huntington and Cadence. Mr. Rollins then updated the Cadence Board on reverse due diligence matters. Following these discussions, the Cadence Board supported continued discussions with representatives of Huntington regarding a potential transaction.

On October 14, 2025, at a regularly scheduled joint meeting of the Huntington Board and the Huntington National Bank Board, members of Huntington management provided an update on the status of the transaction and due diligence. Management discussed the proposed economics of the transaction and related matters, 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