Huntington to Buy Cadence Bank for $7.4B, Expands South
Regional Lender Huntington Strikes $7.4 Billion Deal to Acquire Cadence Bank, Expanding Southern Footprint
Huntington to Buy Cadence Bank for $7.4B, Expands South
In a bold move signaling the resurgence of consolidation among U.S. regional banks, Huntington Bancshares Inc. (NASDAQ: HBAN) announced on Monday it has agreed to acquire Cadence Bank in an all-stock transaction valued at approximately $7.4 billion. The deal, which values Cadence at $39.77 per share, represents a 12% premium over its recent closing price and positions the combined entity as a top-10 U.S. bank by assets, with a sprawling network spanning 21 states from the Midwest to the Deep South. Deal Details and Structure Under the terms of the definitive agreement, Huntington will issue 2.475 shares of its common stock for each outstanding share of Cadence common stock. Based on Huntington's closing price of $16.07 on October 24, 2025, this exchange ratio implies the $39.77 per-share value for Cadence (NYSE: CADE). The transaction is expected to close in the first quarter of 2026, pending regulatory approvals and shareholder votes. The merger is projected to be immediately accret…
