Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 105

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 105
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 judgments of the management of Huntington as to the future financial performance of Huntington and Cadence and the other matters covered thereby. Evercore relied, at the direction of Huntington, on the assessments of the management of Huntington as to Huntington’s ability to achieve the Synergies and were advised by Huntington, and assumed with the consent of the Huntington board of directors that the Synergies would be realized in the amounts and at the times projected. Evercore expressed no view as to the Forecasts, including the Synergies, or the assumptions on which they were based. For purposes of Evercore’s analysis and opinion, Evercore assumed, in all respects material to its analysis, that the final executed merger agreement would not differ from the draft merger agreement reviewed by Evercore, that the representations and warranties of each party contained in the merger agreement were true and correct, that each party would perform all of the covenants and agreements required to be performed by it under the merger agreement and that all conditions to the consummation of the merger would be satisfied without waiver or modification thereof. Evercore is not an expert in the evaluation of loan and lease portfolios for purposes of assessing the adequacy of the allowances and marks for losses with respect thereto and, accordingly, Evercore assumed that such allowances for losses, and marks for losses for Huntington and Cadence were in the aggregate adequate to cover such losses. Evercore further assumed, in all respects material to its analysis, that all governmental, regulatory or other consents, approvals or releases necessary for the consummation of the merger would be obtained without any delay, limitation, restriction or condition that would have an adverse effect on Cadence, Huntington or the consummation of the merger or reduce the contemplated benefits to Huntington of the merger. Evercore did not conduct a physical inspection of the properties or facilities of Cadence or Huntington, did not review individual credit files and did not make or assume any responsibility for making any independent valuation or appraisal of the assets or liabilities (including any contingent, derivative or other off-balance sheet assets and liabilities) of Cadence or Huntington, nor was Evercore furnished with any such valuations or appraisals, nor did Evercore evaluate the solvency or fair value of Cadence or Huntington under any state or federal laws relating to bankruptcy, insolvency or similar matters. Evercore’s opinion was necessarily based upon information made available to Evercore as of the date of its opinion and financial, economic, market and other conditions as they existed and as could be evaluated on the