Santander Suspends Buyback for Webster Deal
The Spanish bank will halt its buyback program from tomorrow until May 26. This pause aligns with the shareholder vote for the 12.2 billion dollar acquisition.
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BANCO SANTANDER SA has announced a temporary suspension of its current share buyback program as it awaits a critical shareholder vote regarding its expansion in the United States. The pause is linked to the Spanish lender's proposed $12.2 billion acquisition of WEBSTER FINANCIAL CORP, a move intended to solidify its presence in the American retail banking sector.
