What is the total value of the deal between Banco Santander and Webster Financial?

The deal between Banco Santander and Webster Financial is valued at $12.3 billion.

Which U.S. regions will Banco Santander's presence be strengthened in?

Banco Santander's presence will be strengthened particularly in the Northeast region of the U.S.

What is the expected timeline for the acquisition of Webster Financial by Santander to close?

The acquisition is expected to close in the second half of the year.

Home / Business and Economy / Santander Buys Webster: A $12.3B U.S. Banking Power Play

Santander Buys Webster: A $12.3B U.S. Banking Power Play

4 Feb

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Summary

Santander acquires Webster Financial in a $12.3 billion cash-and-stock deal.
The acquisition aims to significantly expand Santander's U.S. presence, especially in the Northeast.
Webster brings over $80 billion in assets and numerous branches across several U.S. states.

Santander Buys Webster: A $12.3B U.S. Banking Power Play

Banco Santander has announced its intention to acquire Webster Financial in a transaction valued at $12.3 billion. This cash-and-stock deal represents a substantial escalation of the Spanish banking giant's efforts to broaden its footprint within the United States. The acquisition is poised to position Santander as a major player among regional U.S. banks. It is expected to conclude in the latter half of the year.

This strategic acquisition will integrate Webster's operations into Santander, establishing it as a wholly owned unit. Webster, based in Stamford, Conn., possesses over $80 billion in assets and maintains a significant network of branches across Connecticut, Massachusetts, Rhode Island, and the New York metropolitan area. This move is seen as crucial for Santander's U.S. business, aiming to establish it as a leading bank in the Northeast.