Banco Santander to Acquire Webster Financial in $12.3 Billion Deal

Banco Santander, a major bank based in Spain, has agreed to buy Webster Financial Corporation, the holding company for Webster Bank, in a transaction valued at about $12.3 billion.

The deal will be paid through a combination of cash and Santander shares. For each share of Webster, stockholders will receive $48.75 in cash and 2.0548 Santander American Depository Shares. This agreement is expected to make the combined company one of the top 10 retail and commercial banks in the United States.

Santander's move aims to strengthen its presence in the U.S. market by acquiring Webster, which is headquartered in Connecticut. Following the announcement, Santander's shares dropped by as much as 5%, with some analysts pointing out concerns about the risks involved in merging the two banks.

Customers should not see any immediate changes, but over time, Webster Bank will become part of the larger Santander group.

Santander wants to expand its business in the United States and the acquisition of Webster will help it become a bigger player in the market.

Webster shareholders will get $48.75 in cash and 2.0548 Santander shares for each Webster share they own.

Some investors were worried about the challenges and risks of combining the two banks, even though analysts supported the long-term strategy.

WSJ

Banco Santander is buying Webster Financial, the holding company for Webster Bank, in a cash-and-stock transaction valued at $12.3 billion.

Reuters

Spain's Santander said on Tuesday it will buy U.S. regional lender Webster Financial in a $12.2 billion deal.

Business Wire

STAMFORD, Conn.--(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...

PYMNTS

Banco Santander plans to expand its presence in the United States by acquiring the holding company for Connecticut-headquartered Webster Bank for $12.2 billion. The combined business created by the acquisition will be a top 10 retail and commercial bank in the U.S.

Reuters

Santander shares fell as much as 5% on Wednesday after the announcement of its proposed $12.2 billion acquisition of Webster Financial and the flagging of short-term execution risks by analysts who otherwise welcomed the deal's strategic rationale.

Market Watch

Santander shares fell on Wednesday, as Spanish investors reacted to the banking giant's latest $12 billion acquisition.

GlobeNewsWire

SAN DIEGO, Feb. 04, 2026 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, PLLP has launched an investigation into whether the board members of Webster Financial Corporation (NYSE: WBS) breached their fiduciary duties in connection with the proposed sale of the Company to Banco Santand...

Bloomberg Markets and Finance

Banco Santander Executive Chair Ana Botin says the lender's decision to acquire Webster Financial in a $12 billion deal is a "strategically important" move. "It drives us to our ultimate goal, which is to be one of the most profitable banks in each geography," Botin tells Bloomberg Television.

Zacks Investment Research

Webster agrees to a cash-and-stock acquisition by Banco Santander for $75.59 per share, with closing expected in the second half of 2026.

Business Wire

NEW YORK CITY & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Webster Financial Corporation (NYSE: WBS) to Banco Santander, S.A. (NYSE: SAN). Under the terms of t...

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