Company: HBAN
Filing Date: 2025-12-29
Form Type: 8-K
Source: 0001140361-25-046769
Chunk: 3

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-29
Form: 8-K
Item: Item 8.01
Chunk 3
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/21/2021          
  Citizens Financial Group, Inc.              Investors Bancorp, Inc.                    7/28/2021          
  New York Community Bancorp, Inc.            Flagstar Bancorp, Inc.                     4/26/2021          
  M& T Bank Corporation                       People’s United Financial, Inc.            2/22/2021          
  Huntington Bancshares Incorporated          TCF Financial Corporation                  12/13/2020         
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  The disclosure on page 84 of the joint proxy statement/prospectus under the section “ The Merger— Opinion of Cadence’s Financial Advisor” is  

The low and high price-to-tangible book value per share multiples of the selected transactions in the “ Selected Transactions Analysis” were 0.99x and 2.34x,
respectively, the low and high pay-to-trade ratios of the selected transactions were 0.56x and 1.18x, respectively, the low and high price-to-LTM Core EPS multiples of the selected transactions were 3.8x and 21.3x, respectively, and the low and
high core deposit premiums of the selected transactions were (0.0%) and 10.6%, respectively. For the six selected transactions in which FWD EPS for the acquired company was available at announcement, the low and high price-to-FWD EPS multiples of
the selected transactions were 8.9x and 14.2x, respectively. For the six selected transactions in which the acquired company was publicly traded, the low and high one-day market premiums (based on the closing price of the acquired company on the
trading day immediately prior to announcement) of the selected transactions were 5.7% and 12.9%, respectively.

  The disclosure on page 86 of the joint proxy statement/prospectus under the section “ The Merger— Opinion of Cadence’s Financial Advisor” is                                                    

The ranges of discount rates assumed in the “ Cadence Dividend Discount Model Analysis,” the “ Huntington Dividend Discount Model Analysis” and the “ Illustrative Pro
Forma Combined Dividend Discount Model Analysis” of 12.0% to 14.0% in all three analyses were selected based on KBW’s experience and judgment taking into account
capital asset pricing model implied cost of capital
calculations.

  The disclosure on page 86 of the joint proxy statement