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, […]