Business
Webster Financial Corporation Enters Into Merger Agreement With Banco Santander, S.A. for $12.3 Billion
STAMFORD, Conn., February 03, 2026--Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A., today announced the signing of a definitive agreement under which Banco Santander, S.A. ("Santander") (NYSE: SAN, Madrid: SAN) will acquire Webster in a cash-and-stock transaction. Under the terms of the agreement, Webster stockholders will receive $48.75 in cash and 2.0548 Santander American Depository Shares for each Webster common share. Based on Santander’s closing stock
About this update from Webster Financial Corporation
[{"type":"list","items":[{"val":[{"type":"text","content":"Creates Top Ten Retail and Commercial Bank by Assets Nationwide","length":63,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Establishes Top Five Bank by Deposits in the Northeast","length":54,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":117,"olType":false},{"type":"text","content":"Transaction Provides Compelling Value for Webster Stockholders","length":62,"tagName":"p","attribs":{}},{"type":"text","content":"STAMFORD, Conn., February 03, 2026--(BUSINESS WIRE)--Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A., today announced the signing of a definitive agreement under which Banco Santander, S.A. ("Santander") (NYSE: SAN, Madrid: SAN) will acquire Webster in a cash-and-stock transaction. Under the terms of the agreement, Webster stockholders will receive $48.75 in cash and 2.0548 Santander American Depository Shares for each Webster common share. Based on Santander’s closing stock price on Monday, February 2, 2026, the transaction has an aggregate value of approximately $12.3 billion.","length":633,"tagName":"p"},{"type":"text","content":"The per share consideration of $75.59 is based on closing prices as of February 2, 2026 and represents a 16% premium to Webster’s 10-day volume-weighted average stock price, a 9% premium to Webster’s all-time high closing stock price, and is greater than 2.0x Webster’s fourth quarter 2025 period-end tangible book value per share.","length":331,"tagName":"p"},{"type":"text","content":""This is an exciting combination that brings together complementary strengths and a shared commitment to excellence," said John R. Ciulla, Chairman & CEO of Webster. "As a larger organization, we will unlock greater scale, broader capabilities and new opportunities for growth—while remaining deeply focused on the people who define our success. I look forward to joining the Santander team and enhancing our ability to support our clients. As a Connecticut-based bank with deep roots in the region, we also look forward to continuing our commitment to the communities we serve."","length":603,"tagName":"p"},{"type":"text","content":"Mr. Ciulla continued, "Paramount to Webster’s board and me was partnering with an organization that understands the importance and power o...