US EditionSpain's BBVA to Start Share Offer for Banco Sabadell on Monday - Spain in English
9 Articles
9 Articles
This morning’s publication by the National Securities Market Commission (CNMV) draws the different scenarios handled by the entity chaired by Carlos Torres to circumvent the minimum acceptance condition, which requires the support of at least 50.1% of the Catalan bank’s share capital to ensure majority control of the company. The publication is produced one day after BBVA received the authorization from the US Stock Exchange Regulator (SEC) to c…
BBVA would be willing to accept a minimum threshold of acceptance in the OPA of the Sabadell Bank of 30% if support for the exchange of shares were insufficient, although it does not renounce to reach the 50% that had been set as condition to carry out the operation. In practice this means a reduction of the percentage of acceptance pending the publication of the prospectus -which contains all the information on the offer-, scheduled for this Se…
Spain's BBVA to start share offer for Banco Sabadell on Monday - Spain in English
Spanish banking giant BBVA said on Friday that its tender offer for domestic rival Banco Sabadell will open on Monday, after Spain’s market watchdog cleared its hostile approach. The combination is pitched as creating a European banking heavyweight able to challenge the likes of Santander, BNP Paribas and HSBC. BBVA — Spain’s second-largest bank, with major businesses in Latin America and Turkey — unveiled an all-share proposal in May 2024 that …
BBVA will have to launch a second OPA on Sabadell in cash if the current one stays between 30% and 50% of the capital
Banco Sabadell shareholders will have until October 7 to decide whether to accept it or not.
The Ibex 35 closed this Friday, September 5, with a fall of 0.45%, which raises the balance in red of the week to 0.57%, after a session shaken by the opa of BBVA-Sabadell.
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