Huntington Bancshares Announces $7.4 Billion Acquisition of Cadence Bank
Huntington Bancshares (HBAN) has entered into a definitive agreement to acquire Cadence Bank (CADE) in an all-stock transaction valued at $7.4 billion. The deal, expected to close in Q1 2026, will see Cadence shareholders receive 2.475 Huntington shares for each Cadence share—a 9% premium to Cadence's last closing price.
The acquisition significantly expands Huntington's footprint across key southern markets, positioning it as the largest bank in Mississippi while bolstering its presence in Texas, Alabama, and Arkansas. This transaction continues the recent wave of consolidation in regional banking, following similar multibillion-dollar deals by Comerica, PNC Financial, and Pinnacle Financial Partners.
Market reaction was mixed, with Cadence shares gaining 3% while Huntington's stock declined 4% on announcement day. The KBW Nasdaq Regional Banking Index underperformed broader markets during the session.
