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Santander to Buy Webster Financial in $12.2 Billion Deal
The $12.2 billion deal will create a top-10 U.S. bank with $327 billion in assets and $800 million in cost synergies, integrating Webster into Santander Bank N.A.
- On Tuesday, Santander announced it will acquire Webster for $12.2 billion, making Webster a wholly-owned subsidiary of Santander Bank N.A.
- As a result, Santander positions itself as a top-ten U.S. retail and commercial bank with about $327 billion in assets and a top-five Northeast deposit franchise with about $172 billion in deposits, according to the source.
- Under the terms, Webster stockholders will receive $48.75 in cash plus 2.0548 Santander American Depository Shares, with 65% cash and 35% stock, based on Monday's closing price.
- The companies said key executives will remain, with Christiana Riley, Santander U.S. country head and CEO of Santander Holdings USA, staying in her role, and John Ciulla becoming CEO of Santander Bank, N.A.,
- Regulatory approvals and shareholder votes are required in the U.S. and E.U., with closing expected in the second half of 2026; Santander projects 7%–8% earnings accretion and ~$800 million synergies.
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With this the Santander will become the fourth most profitable bank among the big banks of the North American country
The acquisition is the largest ever made by a European bank in the US.
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The Spanish firm will be among the top ten retail banking entities and companies in the United States for assets.
Coverage Details
Total News Sources46
Leaning Left2Leaning Right7Center7Last UpdatedBias Distribution44% Center, 44% Right
Bias Distribution
- 44% of the sources are Center, 44% of the sources lean Right
44% Right
12%
C 44%
R 44%
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