Santander Consumer USA Holdings, Inc.
SANTANDER CONSUMER USA (SC) SHAREHOLDER ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of Santander Consumer USA Holdings, Inc.
(Wilmington, DE) Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Santander Consumer USA Holdings, Inc. (NYSE: SC) (“Santander Consumer” or the “Company”) relating to the sale of the Company to its controlling stockholder Santander Holdings USA, Inc. (“Santander Holdings”). On August 24, 2021, the two parties announced the signing of a definitive merger agreement pursuant to which Santander Holdings will acquire Santander Consumer in a merger worth $12.7 billion. As a result, Santander Consumer’s shareholders are only anticipated to receive $41.50 per share in cash in exchange for each share of Santander Consumer.
Andrews & Springer’s investigation so far has revealed that the consideration Santander Consumer shareholders are expected to receive in the merger is inadequate. While the Company claims that shareholders will receive a 14% premium for their shares, the deal consideration is significantly less than the $48.00 price target set by analysts at BMO Capital Markets on July 28, 2021. The deal consideration is also less than the Company’s 52-week high trading price of $42.29. Given that Santander Consumer’s controlling stockholder, Santander Holdings, stands on both side of the transaction, the merger appears to have significant conflicts of interest thus making the process and consideration unfair.
If you own shares of Santander Consumer and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/santander-consumer-class-action-investigation/ or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.