BBVA loses $19 billion bid for Sabadell
BBVA’s Proposal for Sabadell Fails MADRID, Oct 16 – Spain’s BBVA, which recently aimed to acquire Sabadell, saw its 16.32 billion euro ($19.07 billion) takeover bid rejected. This outcome ended an 18-month contentious takeover battle that had garnered significant public scrutiny. BBVA’s Chairman, Carlos Torres, who put forth the proposal, described the development as disappointing […]
Spain prevents BBVA from merging with Sabadell for a minimum of three years.
New hurdles for BBVA’s takeover bid of Sabadell The Spanish government has introduced new challenges to BBVA’s €11 billion hostile takeover of its rival, Sabadell, stating that the two banks cannot merge for at least three years. Economic Affairs Minister Carlos Cuerpo indicated that the decision ensures the banks must keep their legal identities, assets, […]
BBVA Makes $12 Billion Hostile Bid for Sabadell After Snub – Yahoo Finance
(Bloomberg) – Banco Bilbao Vizcaya Argentaria has made an 11.5 billion euro ($12.4 billion) bid for Banque Sabadell directly to shareholders, but the Spanish government is concerned about job cuts and a decline in competitiveness. It was an unusually hostile move, with the government announcing its opposition. Most Read Articles on Bloomberg According to BBVA’s […]
BBVA takes Sabadell bid approach directly to shareholders – Financial Times
Unlock Editor’s Digest for free FT editor Roula Khalaf has chosen her favorite stories in this weekly newsletter. Spanish bank BBVA has launched an 11.5 billion euro hostile takeover bid for Banco Sabadell after the board of its smaller rival rejected the offer. BBVA made an all-share offering directly to Sabadell shareholders on Thursday, less […]