-
A broader branch and service network
-
Enhanced digital and mobile banking tools
-
Expanded offerings across consumer, commercial and healthcare savings
-
Continued relationship-based local service, backed by the global scale of Santander
Until the transaction closes, both banks will operate independently, with no immediate changes to accounts, branches or day-to-day services.
Santander said it remains committed to maintaining high service levels throughout integration while continuing to invest in technology and customer experience across the U.S.
Deal Terms and Valuation
Under the agreement, Webster shareholders will receive $48.75 in cash and 2.0548 Santander shares in the form of American Depositary Shares for each Webster share. Based on Santander’s three-day volume-weighted average share price of €10.79 through Feb. 2, 2026, and a EUR/USD exchange rate of 1.1840, the stock component equates to $26.25 per Webster share, bringing total consideration to $75.00 per share.
The offer represents a 14% premium to Webster’s three-day volume-weighted average share price of $65.75 as of Feb. 2, 2026.
The valuation implies a price-to-earnings multiple of 10 times Webster’s projected 2028 earnings, or 6.8 times after anticipated cost savings. The consideration mix consists of 65% cash and 35% newly issued Santander shares.
