AcquisitionsJul 27, 2026, 03:51 PM
Webster $12.3B Acquisition by Banco Santander Nears Close
AI Summary
Webster Financial Corporation announced significant progress on its proposed acquisition by Banco Santander, valued at approximately $12.3 billion. The transaction has received approvals from Webster's stockholders, the OCC, and the European Central Bank, with Federal Reserve approval still pending for an expected closing in the second half of 2026. For Q2 2026, the company reported a diluted EPS of $1.56, an increase from $1.52 year-over-year, and net interest income grew 1.9% to $632.7 million, though net interest margin decreased. Additionally, a joint venture with Marathon Asset Management faces potential dissolution due to recent changes in control.
Key Highlights
- Banco Santander to acquire Webster for approximately $12.3 billion.
- Webster stockholders to receive $48.75 cash and 2.0548 ADSs per share.
- Acquisition approved by stockholders, OCC, and ECB; Federal Reserve approval pending.
- Transaction expected to close in the second half of 2026.
- Q2 2026 diluted EPS increased to $1.56 from $1.52 YoY.
- Q2 2026 net interest income rose 1.9% to $632.7 million.
- Non-performing assets decreased to $430.2 million from $537.1 million YoY.
- Joint venture with Marathon Asset Management faces potential dissolution due to change of control.
Price Impact
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