Santander closes the purchase of Webster this week
Banco Santander plans to complete this week its acquisition of US-based Webster Financial, just over six months after announcing the deal, after receiving all necessary approvals from regulators and the company's shareholders.
Banco Santander is set to complete its acquisition of US-based Webster Financial this week, after receiving all necessary regulatory and shareholder approvals. The deal, announced six months ago, is expected to be finalized on August 20, with Webster to be removed from the S&P MidCap 400 index and replaced by Sun Communities. The acquisition, worth an unspecified amount, is expected to boost Santander's business in the US and help meet its financial targets, including a 18% return on tangible equity by 2028.
The deal has been approved by regulators including the US Federal Reserve and the European Central Bank.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
