FDA Greenlights Santander's $12.3B Webster Buyout, Final Hurdle Cleared
WBS sits 48% above its 52-week low of $52.689.
Summary
The FDA has approved Banco Santander's acquisition of Webster Financial, removing the last known regulatory obstacle. This follows approvals from the OCC in June, the ECB in July, and the Federal Reserve just yesterday. The $12.3 billion deal, priced at $75.00 per share, was approved by Webster shareholders in May. With all major U.S. and European regulators now on board, the transaction is expected to close on August 20. The stock is trading near its 52-week high, reflecting market confidence that the deal will proceed.
At the time of this announcement, WBS was trading at $77.95 on NYSE in the Finance sector, with a market capitalization of approximately $12.6B. The 52-week trading range was $52.69 to $78.29. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.