Banco Santander SA (SAN) News & EventsSANNews & EventsBanco Santander SA

Santander's Acquisition of Webster Approved by Federal Reserve

Banco Santander (SAN) and Webster Financial (WBS) announced that they have received the required approval from the Board of Governors of the Federal Reserve System for Santander's previously announced acquisition of Webster, the holding company for Webster Bank, N.A., a diversified U.S. retail and commercial bank. This follows the approval by the Office of the Comptroller of the Currency on June 12, 2026, and the authorization granted by the European Central Bank on July 21, 2026. The transaction is now expected to close on August 20, 2026.

Banco Santander Plans to Acquire 10% of Santander Brazil Shares

Banco Santander intends to launch an offer to acquire all of Santander Brazil's issued and outstanding common shares, preferred shares, units and American Depositary Shares that it does not already own, representing approximately 10% of Santander Brazil's share capital. The transaction is expected to be implemented through voluntary and concurrent exchange tender offers in Brazil and the United States. The offer will be voluntary, it does not seek the delisting of Santander Brazil and is not subject to a minimum acceptance condition. Depending on the results of the offer, Santander Brazil's ADSs may be removed from listing on the New York Stock Exchange and from registration with the U.S. Securities and Exchange Commission. The exchange offer consideration will consist of newly issued Banco Santander shares. Santander Brazil shareholders who accept the offer will receive, for each unit or ADS of Santander Brazil, 0.4056 newly issued Banco Santander shares and for each common share or preferred share of Santander Brazil, 0.2028 newly issued Banco Santander shares. The delivery of the shares will be made in the form of Brazilian Depositary Receipts or ADSs, as applicable, which will be tradable on the Sao Paulo stock exchange and the New York Stock Exchange, respectively. The offer represents a premium of 15% over the reference share price of a unit of Santander Brazil. The transaction will involve a maximum of approximately EUR1.908B. If all shares held by minority shareholders were tendered into the offer, Banco Santander would issue approximately 156M new shares, equivalent to approximately 1.1% of its current share capital. As part of the transaction, Banco Santander will apply for its registration as a foreign issuer and for the registration of its shares for trading in Brazil through a BDR program. Additionally, Banco Santander will seek approval from its general shareholders' meeting for the corresponding capital increase.