Santander Consumer USA Shares Rise as Santander Holdings USA Seeks Full Ownership
July 02 2021 - 11:27AM
Dow Jones News
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)
Copyright (c) 2021 Dow Jones & Company, Inc.
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