Bloomberg Intelligence Merger Monday for Banks and Biotech
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Oct 27, 2025 Herman Chan, a senior analyst for U.S. regional banks, dives into Huntington Bancshares' $7.4 billion acquisition of Cadence, highlighting its strategic expansion in Texas. Sam Fazeli, director of research for global industries, discusses Novartis' $12 billion purchase of Avidity Biosciences and its post-patent strategy. Lastly, Matthew Palazola, a senior analyst in P&C insurance, analyzes Hurricane Melissa's threat to the Caribbean and the implications for insurance markets, revealing insights on potential economic losses and reinsurance exposures.
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Huntington Doubles Down On Texas Growth
- Huntington is aggressively expanding into Texas and the Southeast through acquisitions, making Texas the strategic prize.
- Management expects scale and better growth demographics to lift return on tangible equity by ~200 bps over the medium term.
Regulatory Step-Up At $250 Billion
- Crossing $250 billion in assets triggers tougher regulatory reporting and liquidity scrutiny for Huntington.
- Expected deregulatory moves could ease that burden and support more regional bank M&A.
Novartis Buys Late‑Stage Rare Disease Assets
- Novartis bought Avidity for technology and three late-stage rare-disease assets to offset upcoming patent expiries.
- The deal targets revenue replacement and fits Novartis's pipeline and commercial capabilities.