Cadence Bank jumps on $7.4 billion buyout deal with Huntington Bancshares

Huntington Bancshares

27/10/2025 11:19

** Regional lender Cadence Bank's CADE.N shares jump 5.5% to $38.51 premarket

** Huntington Bancshares HBAN.O will buy CADE in a $7.4 billion all-stock deal

** CADE shareholders will receive 2.475 shares of HBAN for each share owned, valuing Cadence at $39.77 apiece

** Deal represents a 9% premium to CADE's last close and expected to close in Q1 2026

** HBAN shares fall 3.2% to $15.55 premarket

** "This is an important next phase of growth for Huntington," says Huntington CEO Steve Steinour

** "This partnership will extend the reach of our full franchise to 21 states — stretching from the Midwest to the South to Texas — and into new, high-growth markets for which we have a powerful playbook," Steinour says

** As of last close, CADE stock up 6% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))