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Santander receives Fed approval for acquisition of Webster Financial Corporation
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Reported by Consejeros Editorial TeamBanco Santander and Webster Financial Corporation have announced that they have receivedapproval from the US Federal Reserve forSantander’s acquisition of Webster, announced last February.
Webster is theparent company of Webster Bank, N.A., a US retail and commercial bank.
Ana Botín, Chair of Santander, said: “Santander US and Webster are a perfect fit.
The transaction is expected to strengthen Santander’s business in the United States and accelerate the achievement of its financial objectives.
Once the transaction is complete, the majority of Webster’s businesses will be integrated into Santander Bank, N.A., Santander’s banking entity in the United States.