The Federal Reserve granted approval for Spain’s Banco Santander to purchase U.S. lender Webster Bank, setting a deadline of 15 days to three months for the transaction to close, thereby expanding Santander’s footprint in the United States.
Spanish companies such as Santander, Iberdrola, Repsol, Naturgy, Acerinox and Inditex, together with European firms ASML, ING, UniCredit and AXA, have reached unprecedented share price levels, and experts are confident about their upward trajectory.
Santander’s US clients receive an analyst report from the bank’s Wall Street allies that is the only one predicting a decline in SpaceX stock below its IPO price, while other analysts maintain more optimistic views on Elon Musk’s company.
Santander temporarily surpassed Inditex as the most valuable company on Spain’s Ibex 35 index during trading, with a market capitalization advantage of €1.2 billion at its peak, but failed to maintain the position by session close.
Banco Santander received $2 million in commissions as part of a $500 million distribution to various financial entities for their role as underwriters in SpaceX’s initial public offering (IPO).