|Bid||3.6800 x 45100|
|Ask||3.7500 x 43500|
|Day's Range||3.6950 - 3.7500|
|52 Week Range||2.2600 - 4.0100|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jan 25, 2017 - Feb 01, 2017|
|Forward Dividend & Yield||0.11 (4.09%)|
|Ex-Dividend Date||Oct 31, 2022|
|1y Target Est||3.99|
MADRID (Reuters) -Santander valued its Mexican business at around 8.1 billion euros ($8.65 billion) on Tuesday with the launch of a voluntary tender offer to acquire the 3.76% of shares it does not own, taking a step towards its de-listing. Over the past few years Santander has expanded in emerging economies in search of faster growth than in Europe, where ultra-low interest rates had made banking less profitable. Spain's biggest bank set the offer price to Santander Mexico shareholders at 24.52 Mexican pesos ($1.28) in cash for each Series B share in Mexico and the U.S. dollar equivalent of 122.6 pesos in cash for each American Depositary Shares (ADS) listed in New York.
Spain's Santander on Tuesday said it has launched a voluntary tender offer to acquire the 3.76% of shares in its Mexican unit it does not own as a step prior to its delisting. Following the conclusion of the tender offer, which is expected to remain in place until March 8 though could be extended, Santander intends to delist the shares in Mexico and the United States. The offer price to shareholders is set at 24.52 Mexican pesos ($1.28) in cash per Series B share in Mexico and the U.S. dollar equivalent of 122.6 pesos in cash per its American Depositary Shares listed in New York.
A Madrid court has ruled Santander's offer letter to Andrea Orcel making him CEO was a binding contract but reduced the compensation for the Italian banker by 8 million euros ($8.6 million) to up to 43.4 million euros, a court document showed. In one of the banking industry' biggest rows over pay, Orcel and Santander ended up in court after Spain's biggest bank dropped plans to make the former UBS investment banker its chief executive in January 2019. The latest ruling, dated Jan. 20, comes after Santander appealed against a lower court order a year ago to pay him 51.4 million euros and contested that Orcel's job offer letter was a contract.