Santander Wins Fed Approval for $12.2B Webster Bank Acquisition

The US Federal Reserve has given Banco Santander the green light to acquire Webster Bank for approximately $12.2 billion, or around €10.5 billion at current exchange rates.

This deal marks a significant expansion of Banco Santander's presence in North America, with Webster Bank operating as a retail and commercial banking entity.

The acquisition is valued at 12.2 billion dollars, according to the Federal Reserve's decision. The details of the acquisition are not yet publicly disclosed.