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Santander Secures Fed Approval to Acquire Webster Financial, Closing in August

Santander logoSantander
Sig4.28Sen+4.76Env0.00Soc0.00Gov+2.33
Webster Financial logoWebster Financial
Sig3.25Sen+5.85Env+0.25Soc+0.60Gov+4.15

Santander has received Federal Reserve approval to acquire Webster Financial Corporation. The deal, supported by the Federal Reserve, OCC, and the ECB, is set to close on August 20, with Webster’s operations merging into Santander Bank, N.A. Clients can continue standard banking without extra steps. The transaction is estimated to lift EPS by 7% to 8% and project RoTE of 18% in the U.S. market.

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