Santander presented A&L offer on Friday

MADRID (Reuters) - Santander (SAN.MC) said it first presented its 1.3 billion pound ($2.6 billion) takeover offer to the Alliance & Leicester on Friday and reached a deal with the board of the British bank on Monday morning.

Santander completed due diligence on the deal over the weekend, having started the process in December of last year, the bank said during a Webcast on the deal.

(Reporting by Andrew Hay; Editing by Sarah Morris)