New York, Jan 31, 2026, 06:52 EST — Market closed
- Cadence Bank dropped 1.7% on Friday, stretching its discount to the implied Huntington acquisition price.
- Traders are zeroing in on the expected Feb. 1 closing date and the final hurdles to clear.
- Next week, Huntington shares will be the main wildcard, given the deal is entirely paid in stock.
Cadence Bank shares ended Friday down 1.66% at $42.11, lagging behind gains in its potential acquirer. Investors appeared cautious as the weekend approaches and the merger deadline looms. (Yahoo Finance)
This move is significant as Cadence is poised to be acquired by Huntington Bancshares in an all-stock transaction. Cadence shareholders will get 2.475 Huntington shares for every Cadence share they hold. Based on Friday’s closing prices, that works out to about $43.26 per Cadence share, placing Cadence roughly 2.7% below that value — a typical “spread” that merger traders monitor for risks tied to timing and deal completion. (Huntington Bancshares Incorporated)
Huntington closed Friday up 1.10% at $17.48, bucking the broader market’s decline. This pushed its implied takeout value higher, even as Cadence shares fell. (MarketWatch)
On Jan. 23, Huntington announced in a filing that it has secured all necessary regulatory approvals for the merger. The deal is set to close “on or about” Feb. 1, pending final closing conditions. (Huntington Bancshares Incorporated)
Company leaders pitched the deal as both a footprint expansion and a major product upgrade. “Today’s shareholder approval is an important milestone,” Huntington CEO Steve Steinour said following the Jan. 6 vote. Cadence CEO Dan Rollins described it as “one step closer to a partnership” focused on relationship banking. (Cadence Bank Investor Relations)
Cadence’s shares followed the weaker trend seen in regional banks toward the end of the week, with the KBW Nasdaq Regional Banking Index slipping 0.44% as of Jan. 30. (Nasdaq)
For Cadence holders, the immediate concern centers on Huntington equity risk. In fixed-ratio stock deals, the target often behaves like a leveraged version of the acquirer, causing the spread to fluctuate sharply with market moves or sudden position unwinds.
The downside risk is clear: any slip beyond the “on or about” date, a hiccup in final conditions, or a sharp drop in Huntington shares could quickly pressure Cadence — even if the deal remains on track. Cadence expects the transaction to close Feb. 1, pending customary closing conditions. (Cadence Bank Investor Relations)
After Friday’s close, Cadence ticked up to $42.41 in light after-hours trading, gaining roughly 0.7% from the day’s final price. (Public)
U.S. markets are closed for the weekend, leaving the next major event as the expected merger close near Feb. 1. Investors will be watching for updates from Huntington on conversion details and how the integration will proceed. (Huntington Bancshares Incorporated)
