Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 102

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 102
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 integrating the two companies, structured to maximize the potential for synergies and positive impact to local communities and minimize the loss of customers and employees and to further diversify the combined company’s operating risk profile compared to the risk profile of either company on a stand-alone basis; |

| • | its review and discussions with Cadence’s management concerning Cadence’s due diligence examination of the operations, financial condition and regulatory compliance programs and prospects of Huntington; |

| • | the expectation that the required regulatory approvals could be obtained in a timely fashion, including Huntington’s record of obtaining regulatory approvals; |

| • | the expectation that the transaction will be generally tax-free for United States federal income tax purposes to Cadence’s shareholders; |

| • | the fact that the exchange ratio would be fixed, which the Cadence board of directors believed was consistent with market practice for transactions of this type and with the strategic purpose of the transaction assured that Cadence shareholders would own a specified percentage of the combined company; |

| • | the fact that 100% of the merger consideration would be in the form of Huntington common stock, which would allow Cadence shareholders the opportunity to participate in the future growth and opportunities of the combined enterprise and the anticipated pro forma impact of the merger and otherwise benefit from the financial performance of the combined enterprise and potential appreciation in the value of Huntington common stock; |

| • | its expectation that, upon consummation of the merger, Cadence shareholders would own approximately 23% of the combined company on a fully diluted basis; |

| • | the fact that Cadence’s shareholders will have an opportunity to vote on the approval of the merger agreement and the merger (and that approval would require a majority of all the outstanding shares of common stock); |

| • | the impact of the merger on Cadence’s employees, including the benefits agreed to be provided by Huntington pursuant to the merger agreement; |

| • | Huntington’s record of support for its customers and communities; |

| • | the terms of the merger agreement, which Cadence reviewed with its legal advisor, including the representations, covenants, deal protection and termination provisions. |

The Cadence board of directors also considered the potential risks related to the transaction but concluded that the anticipated benefits of combining with Huntington were likely to outweigh these risks. These potential risks include:

| • | the possible diversion of management attention and resources from other strategic opportunities and operational matters while working to implement the transaction and integrate the two companies; |

| • | the risk of losing key Cadence employees during