MergerApr 30, 2026, 04:01 PM
WBS Banco Santander Acquisition Valued at $12.3B; Q1 EPS $1.50
AI Summary
WEBSTER FINANCIAL CORP (WBS) announced its proposed acquisition by Banco Santander for approximately $12.3 billion, with the transaction expected to close in the second half of 2026, pending regulatory and stockholder approvals. For Q1 2026, WBS reported diluted EPS of $1.50, an increase of 15.4% year-over-year, and net income of $246.2 million. The company's joint venture with Marathon Asset Management faces potential dissolution due to change of control clauses triggered by both the Banco Santander acquisition and CVC Capital Partners' acquisition of Marathon.
Key Highlights
- Banco Santander to acquire WBS for approximately $12.3 billion.
- WBS stockholders to receive $48.75 cash and 2.0548 ADSs per share.
- Q1 2026 diluted EPS increased 15.4% to $1.50.
- Q1 2026 net income rose 8.5% to $246.2 million.
- Net interest income increased 3.6% to $634.4 million.
- Provision for credit losses decreased 30.3% to $54.0 million.
- Non-performing assets decreased 7.1% to $524.4 million.
- Joint venture with Marathon Asset Management faces potential dissolution.
Price Impact
More from WBS