Santander Holdings USA to acquire Santander Consumer USA for $41.50/share in cash

Santander Holdings USA, Inc.

All-cash tender offer at $41.50 per share for all SC shares not already owned by SHUSA, followed by a second-step merger.
SC's board (unanimous recommendation of Special Committee of independent directors) recommends the offer; SHUSA board also approved.
Consummation subject to Federal Reserve approval under Dodd-Frank, no law/injunction, and customary conditions; deadline March 31, 2022 (extendable).
Outstanding stock options and RSUs to be cashed out or replaced with ADR-based awards, respectively.

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