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BBVA to Proceed with Sabadell Bid Despite Govt Condition
- BBVA announced it will maintain its offer to acquire Sabadell on July 1, 2025, despite restrictions imposed by the Spanish government.
- The Spanish government barred a full merger between BBVA and Sabadell for at least three years, potentially extending the restriction by two more years.
- Sabadell may convene a board meeting today to review and decide on bids from Santander and Barclays for its UK unit, TSB, amid ongoing competitive offers.
- BBVA chairman Carlos Torres Vila stated the deal creates significant value, aiming to increase lending by €5 billion annually and build a competitive bank in Europe.
- Despite government opposition, BBVA maintains its offer, implying possible majority shareholding without full merger and delayed synergy realization.
14 Articles
14 Articles
The Catalan bank convenes an extraordinary meeting on August 6 for shareholders to approve the transaction, as it occurs at the heart of BBVA’s hostile takeover, and the payment of a new dividend. BBVA maintains the OPA on Banco Sabadell despite the conditions of the government. Banco Sabadell defends himself with nails and teeth from the hostile takeover bid launched by BBVA. One day after BBVA announced that it is moving forward with the opera…
The rise of the banking M&A and its excess capital drive the decision, with the conviction that big investors are committed to size, in line with European desires. Read
The Catalan bank will receive 3.1 billion euros for the sale, and promises juicy dividends to shareholders if they reject BBVA's takeover bid
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- 75% of the sources are Center
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