Company: HBAN
Filing Date: 2025-10-27
Form Type: 425
Source: 0001140361-25-039392
Chunk: 9

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-10-27
Form: 425
Chunk 9
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 in the first quarter of 2026, subject to regulatory approvals, approval by Huntington and Cadence shareholders and other customary closing conditions. Upon conversion, which is expected in the second quarter of 2026, Cadence Bank teams and branches will operate under the Huntington Bank name and brand. Transaction Terms Under the terms of the agreement, Huntington will issue 2.475 shares of common stock for each outstanding share of Cadence common stock in a 100% stock transaction. Based on Huntington's closing price of $16.07 as of October 24, 2025, the consideration implies $39.77 per Cadence share or an aggregate transaction value of $7.4 billion. The transaction is expected to be 10% accretive to Huntington's earnings per share, mildly dilutive to regulatory capital at close, and 7% dilutive to tangible book value per share with earn-back in three years inclusive of merger expenses. Advisors Evercore served as the financial advisor and Wachtell, Lipton, Rosen & Katz served as legal counsel to Huntington in the transaction. BofA Securities also served as advisor to Huntington. Keefe, Bruyette & Woods, A Stifel Companyserved as the financial advisor and Sullivan & Cromwell LLP served as legal counsel to Cadence in the transaction. Teleconference / Webcast Information Huntington's senior management will host a conference call to discuss the acquisition on Monday, October 27, 2025 at 8:30 a.m. Eastern Time, to discuss the strategic and financial implications of the transaction. The call, along with slides, may be accessed via a live internet webcast at the Investor Relations section of Huntington's website, www.huntington.com, or through a dial-in telephone number at (877) 407-8029 or (201) 689-8029; conference ID #13756900. About Huntington Huntington Bancshares Incorporated is a $223 billion asset regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle‐market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Huntington operates more than 1,000 branches in 14 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information. About Cadence Bank Cadence Bank (NYSE: CADE) is a $53 billion regional bank committed to helping people, companies