Webster Financial Acquired by Banco Santander | Financial Services M&A Deal

Banco Santander has agreed to acquire Webster Financial, a banking business in Connecticut, for $12.3 billion. Webster Financial is the holding company for Webster Bank, providing retail and commercial banking services across the Northeast and nationwide, which fits Banco Santander acquisitions focused on U.S. growth. The banking acquisition expands Santander’s deposit base and scale, supporting a merger acquisition strategy to add complementary products, technology, and capabilities in financial services M&A. The strategic acquisition is structured as a cash-and-stock merger acquisition, with Webster stockholders receiving $48.75 in cash and 2.0548 Santander American Depository Shares per share. Announced as a strategic acquisition and expected to close after regulatory approvals, the deal is positioned as a bolt-on for Santander Group and a platform expansion for its U.S. business.