Banco Santander S.A. intends to acquire all shares of Santander BanCorp for 12.25 USD per share in cash

Madrid, 16 December 2009 - Banco Santander S.A. (Banco Santander) announced today that it intends to commence a cash tender offer through its wholly-owned subsidiary, Administración de Bancos Latinoamericanos Santander, S.L., for all outstanding publicly-held shares of common stock of Santander BanCorp (NYSE: SBP; LATIBEX: XSBP) at 12.25 USD per share. Banco Santander, which currently owns 90.6% of the Santander BanCorp outstanding shares, expects to commence the tender offer within approximately one month.

Read full press release