Santander Holdings USA Again Extends Expiration Date Of Tender Offer For Santander Consumer USA

Santander Holdings USA, Inc., a wholly-owned subsidiary of Banco Santander, S.A. (SAN), announced Friday that it has extended the expiration date of its previously announced tender offer to acquire all outstanding shares of common stock of Santander Consumer USA Holdings Inc. not already owned by Santander Holdings for $41.50 per share.

The Tender Offer commenced on September 7, 2021 and as previously extended was scheduled to expire at 5:00 p.m., New York City Time, on January 20, 2022. As a result of this extension, the Tender Offer is now scheduled to expire at 5:00 p.m., New York City Time, on January 27, 2022.

The transaction is not subject to shareholder approval and is currently expected to close in the first quarter of 2022 upon receipt of regulatory approval.

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