Santander Extends Tender Offer Expiration Date

By Staff Writer November 22, 2021

Santander Holdings USA 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 SHUSA for $41.50 per share.

Under the terms of the merger agreement entered into on August 23, 2021 by and among SHUSA, SC and Max Merger Sub, a wholly owned subsidiary of SHUSA, the tender Offer will be followed by a second-step merger in which the Purchaser will be merged with and into SC, with SC surviving as a wholly owned subsidiary of SHUSA, and all outstanding shares of common stock of SC not tendered in the tender offer will be converted into the right to receive the offer price in cash.

The tender offer commenced on Sept. 7 and as previously extended was scheduled to expire at 5:00 p.m., New York City Time, on Nov. 17. As a result of this extension, the tender offer is now scheduled to expire at 5:00 p.m., New York City Time, on Nov. 24.

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Last modified on Monday, 22 November 2021 00:37