Huntington to acquire Cadence Bank for $7.4B in stock; deal 10% accretive to EPS

HUNTINGTON BANCSHARES INC /MD/

Deal value $7.4B; Huntington issuing 2.475 shares per Cadence share; implies $39.77/share on Oct 24 close $16.07.
Expected close Q1 2026; 10% EPS accretive, 7% TBV dilutive with earn-back in 3 years.
Combined assets $276B, deposits $220B; creates top 10 US bank; #1 in Mississippi by deposits.
Cadence CEO Dan Rollins to join Huntington board as non-executive Vice Chairman; no branch closures.
Expands Huntington into high-growth markets: Houston, Dallas, Atlanta, Nashville, Orlando, Tampa.

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