Tender Offer for Santander BanCorp shares
June 24 2010 - 7:37AM
UK Regulatory
TIDMBNC
RNS Number : 1949O
Banco Santander S.A.
24 June 2010
MATERIAL FACT ANNOUNCEMENT
Further to the Material Fact Announcement number 117629, published on December
14, 2009, Banco Santander S.A. ("Banco Santander") announces that it has filed
today with the Securities and Exchange Commission (SEC) a Tender Offer Statement
and Schedule 13e-3 Transaction Statement and other materials relating to the
cash tender offer (the "Offer") commenced through its wholly-owned subsidiary,
Administración de Bancos Latinoamericanos Santander, S.L. ("ABLASA"), for all
outstanding shares (the "Shares") of common stock of Santander BanCorp not owned
by ABLASA (9.4% of the share capital of Santander BanCorp approximately) at
US$12.69 per share.
The Offer starts today and is scheduled to expire at 12:00 midnight, New York
City time, on July 22, 2010, unless extended.
Following the consummation of the Offer, Banco Santander intends to consummate
in Puerto Rico a short-form merger (the "Merger") with Santander BanCorp in
which any holders whose shares were not purchased in the Offer will receive the
same price per share as was paid in the Offer.
Banco Santander will take the necessary steps to terminate the listing of the
Shares on the New York Stock Exchange and Latibex after the completion of the
Merger.
Shareholders who have their shareholding through Latibex will receive soon
information on the mechanisms to sell their shares in the Offer.
The total consideration payable by Banco Santander in the Offer and the Merger
is approximately US$55.8 million.
Boadilla del Monte (Madrid), June 24, 2010
________________________
This announcement is neither an offer to purchase nor a solicitation of an offer
to sell Santander BanCorp common stock. The solicitation and offer to buy
Santander BanCorp's common stock is being made pursuant to a tender offer
statement on Schedule TO (including the offer to purchase and related
materials).
The Offer is not being made in the United Kingdom.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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