M&A
confidence high
sentiment positive
materiality 0.75
Santander Holdings to acquire remaining 20% of Santander Consumer USA at $41.50/share
Santander Holdings USA, Inc.
- Offer price $41.50 per share, representing a 14% premium to July 1 close of $36.43.
- SHUSA already owns ~80% of SC; transaction will acquire remaining ~20% for cash.
- Expected to close late Q4 2021 subject to Federal Reserve approval; accretive to Banco Santander EPS by ~3% in 2022.
- Estimated capital impact: SHUSA CET1 down 73 bps; parent Banco Santander CET1 down ~10 bps.
- Special Committee of SC board unanimously recommended the offer.