Huntington Bancshares Inc. has agreed to buy Cadence Bank in another push to expand its footprint across the southern and southeastern states, underscoring hectic dealmaking in the crowded US finance sector.
The all-stock transaction will value Cadence at $7.4 billion, the companies said in a joint statement. The move came a week after Columbus, Ohio-based Huntington closed its $1.9 billion acquisition of Veritex Holdings, Inc. that was announced in July.
