Huntington Bancshares (HBAN) on Monday announced the acquisition of Cadence (CADE) in an all-stock deal valued at $7.4B, RBC Capital tells investors in a research note. The acquisition fits “nicely” into Huntington’s strategy amid its expansion in Texas and the Southeast, the analyst says. The firm maintains an Outperform rating and $19 price target on Huntington shares.
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