Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 191

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 191
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 (although the resolutions approving the merger agreement as of the date of the merger agreement may not be rescinded or amended), in which event the board of directors of Cadence or the board of directors of Huntington, as applicable, may communicate the basis for its Cadence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 the Huntington Parties or Cadence, as applicable, and after receiving the advice of its outside counsel and, with respect to financial matters, its financial advisors, determines in good faith (x) that such acquisition proposal nevertheless 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) with respect to an intervening event (as defined below) that it would nevertheless more likely than not result in a violation of its fiduciary duties under applicable law to continue to recommend, in the case of Cadence, the merger agreement and the merger and, in the case of Huntington, the issuance of Huntington common stock in connection with the merger. In the case of Cadence, any material amendment to any Cadence acquisition proposal will be deemed to be a new Cadence acquisition proposal for purposes of such notice requirement and will require a new notice period.

For purposes of the merger agreement, “superior proposal” means (i) in the case of Cadence, any bona fide written cadence acquisition proposal that the board of directors of Cadence has determined in good faith, after consultation with its