By Robb M. Stewart

 

Santander Consumer USA Holdings Inc.'s shares climbed Friday after Banco Santander SA's wholly-owned American subsidiary pitched an offer for the roughly 20% stake it doesn't already own of the Dallas-based consumer-finance company.

In morning trading, Santander Consumer shares were 11% higher, at $40.35. They have risen 83% so far this year, and have more than doubled over the last 12 months.

Santander Holdings USA Inc. said that it a day earlier offered to buy all outstanding shares of Santander Consumer not already held for $39 a share cash, a 7.4% premium to Wednesday's closing price.

 

Write to Robb M. Stewart at robb.stewart@wsj.com

 

(END) Dow Jones Newswires

July 02, 2021 11:17 ET (15:17 GMT)

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