Huntington’s $7.4B Texas-Tupelo Power Move: Cadence Bank Takeover Shakes Up Banking
Deal Details and Rationale On Oct. 27, Huntington Bancshares announced it will absorb Cadence Bank in a stock-for-stock merger Finimize Sec. Cadence is a $53 billion-asset regional bank based in Houston/Tupelo, with 390 branches in eight states Sec Bankingdive. Under the deal Huntington will issue 2.475 of its shares per Cadence share. Based on HBAN’s Oct. 24 close of $16.07, the exchange…