Ademi LLP is investigating Webster (NYSE: PKST) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Banco Santander.
In the transaction, Webster stockholders will receive $48.75 in cash and 2.0548 Santander American Depository Shares for each Webster common share. The per-share consideration is approximately $75.59, based on closing prices as of February 2, 2026. Webster insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Webster by imposing a significant penalty if Webster accepts a competing bid. We are investigating the conduct of the Webster board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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