---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-041328"
form_type: "8-K"
ticker: "WBS"
cik: "0000801337"
company_name: "WEBSTER FINANCIAL CORP"
filed_at: "2026-02-06T23:59:59+00:00"
generated_at: "2026-05-16T04:13:17.946279+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Webster Financial to be acquired by Banco Santander for 2.0548 SAN shares plus $48.75 cash per WBS share

## Summary
- Transaction structured as a reincorporation merger into a Virginia sub, then a share exchange by Santander.
- Each Webster common share will be exchanged for 2.0548 Santander ordinary shares (or ADSs) and $48.75 in cash.
- Deal unanimously approved by both boards; requires Webster and Santander shareholder votes and regulatory approvals (Fed, ECB).
- Webster would pay a $489M termination fee if it accepts an alternative proposal or changes board recommendation.
- Time-based and performance-based restricted stock awards will either vest or convert to Santander equity awards at closing.

## SEC filing metadata
- accession: 0001193125-26-041328
- form_type: 8-K
- ticker: WBS
- cik: 0000801337
- company_name: WEBSTER FINANCIAL CORP
- filed_at: 2026-02-06T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/801337/000119312526041328/0001193125-26-041328-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/801337/000119312526041328/d103982d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-041328
- JSON: https://secwatch.observer/filing/0001193125-26-041328.json
- Plain text: https://secwatch.observer/filing/0001193125-26-041328.txt

## Key facts
- Material Agreements
  WEBSTER FINANCIAL CORP entered into Transaction Agreement with Banco Santander, S.A. (effective 2026-02-03).
  - Action: entry
  - Agreement: merger
  - Counterparty: Banco Santander, S.A.
  - Effective: 2026-02-03
  source text: On February 3, 2026, Webster Financial Corporation, a Delaware corporation (“Webster”), entered into a Transaction Agreement (the “Transaction Agreement”) with Banco Santander, S.A., a Spanish sociedad anónima (“Banco Santander”), and a wholly owned subsidiary of Webster incorporated in the State of Virginia (the “Webster Subsidiary”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/801337/000119312526041328/0001193125-26-041328-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.