SC - Santander Holdings USA proposes to acquire remaining outstanding shares of Santander Consumer USA Holdings at 39 per share

Santander Holdings USA (SHUSA) has submitted a proposal to acquire all outstanding common stock of Santander Consumer USA Holdings (SC) not already owned by SHUSA for $39 per share in cash.The proposal represents a 7.4% premium to Wednesday’s closing price of $36.32 and a 30.4% premium to SC’s average share price since January 1, 2021.Santander Holdings USA currently owns approximately 80% of SC’s outstanding shares of common stock.If the proposed transaction is completed, SC would become a wholly-owned subsidiary of SHUSA.

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Santander Holdings USA proposes to acquire remaining outstanding shares of Santander Consumer USA Holdings at 39 per share