Huntington's $7.4B Cadence deal gets regulatory sign-off [Yahoo! Finance]
Cadence Bank (CADE)
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Source: Yahoo! Finance
Huntington Bank's $7.4 billion acquisition of Cadence Bank received approval from the Office of the Comptroller of the Currency, the Columbus, Ohio-based lender disclosed Monday That marks the last regulatory green light needed for the transaction, which is expected to close Feb. 1, Huntington said. The timeline meets the bank's initial projection that the deal would close in 2026's first quarter, with systems conversion following in the second. The OCC's green light came 56 days after Huntington announced its intention to acquire Cadence. That's fast even for the Trump administration, which has progressively truncated the time regulators spend evaluating potential deals. By comparison, PNC's $4.1 billion acquisition of Colorado's FirstBank gained approval from the Federal Reserve 94 days after the deal was announced in September. The $8.6 billion merger of equals between Tennessee-based Pinnacle and Georgia-based Synovus received the Fed's blessing after 124 days The Hunti
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News
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