Santander has submitted a binding offer for Spanish lender Sabadell’s British unit TSB, Reuters’ Amy-Jo Crowley and Andres Gonzalez report. According to two sources with knowledge of the matter, the offer would value TSB at more than $3.15B, with one person adding that Sabadell may hold a board meeting as soon as Tuesday to decide on whether to proceed and if so which bid will win.
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