AcquisitionsAug 5, 2026, 09:03 AM
Santander Receives Fed Approval for Webster Acquisition
AI Summary
Banco Santander, S.A. and Webster Financial Corporation announced that the Board of Governors of the Federal Reserve System has approved Santander's acquisition of Webster. This follows prior approvals from the Office of the Comptroller of the Currency and the European Central Bank. The transaction is now expected to close on August 20, 2026. Santander anticipates significant financial benefits, including an 18% return on tangible equity and 7-8% earnings per share accretion by 2028.
Key Highlights
- Federal Reserve System approved Banco Santander's acquisition of Webster Financial Corporation.
- Transaction previously approved by OCC on June 12, 2026, and ECB on July 21, 2026.
- Closing of the acquisition is expected to occur on August 20, 2026.
- Santander expects 18% Return on Tangible Equity (RoTE) by 2028 post-integration.
- Transaction expected to generate 7-8% earnings per share accretion by 2028.
- Estimated 15% return on invested capital by 2028 for Santander.
- Webster Financial Corporation has more than $80 billion in total assets.
Price Impact
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