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Regulatory clearances remove a key hurdle, the close date is set, and disclosed forward targets (RoTE 18% by 2028, 7–8% EPS accretion) support a favorable re-rating. Historical precedent shows near-term stock moves on regulatory milestones in bank M&A; risk remains around integration and funding.
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Santander has received Fed approval for its acquisition of Webster Financial, with OCC and ECB clearances already granted and a closing targeted for August 20, 2026. The merger would fold Webster Bank into Santander Bank, U.S.A., and is expected to deliver RoTE of about 18% by 2028 and EPS accretion of 7–8% along with ~15% ROIC. The near-term focus is on integration execution and regulatory milestones.
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