US EditionBBVA To Continue Takeover Bid For Sabadell Despite Sale Of TSB - Data Intelligence
12 Articles
12 Articles
Next Wednesday, July 9, it is 14 months since BBVA surprised the market with a hostile opa over Banco Sabadell. A rudder strike that came after the Catalan entity’s board of directors rejected the proposal for a friendly merger. Since then, the argumental thread has revolved around the growth potential that they present as a solo project and their ability to generate excess capital with which to remunerate shareholders. The team led by Josep Oli…
BBVA’s opa on Banco Sabadell, after 14 months, continues its course despite the intervention of the government of Pedro Sánchez to veto the subsequent merger and the movements of the Catalan entity that hinder the operation, such as the sale of the British subsidiary TSB or the intended distribution of an extraordinary historical dividend. The outcome of the offer is getting closer and closer but there are still several critical steps that can c…
BBVA submitted an updated version of the prospectus for its takeover bid (OPA) for Banco Sabadell to the National Securities Market Commission (CNMV) on Monday. This comes after the government tightened the terms of the takeover bid and after the bank announced that, despite these conditions, it continues with its intention to merge the Catalan bank into the BBVA conglomerate. The bidding bank had yet to submit an updated prospectus to the regul…
– Concentrating financial power is not modernizing the economy, it is dynamite competition – The government gives the green light to BBVA’s OPA on Sabadell with cosmetic conditions as the banking concentration that razes employment, services and sovereignty progresses. HISTORY OF A BANK DEVORING ANOTHER: OPA, FUSIONS AND EUFEMISMOS The OPA launched by BBVA to stay with Banco Sabadell is not an isolated episode. It is just the last movement of a …
BBVA is currently retouching the opa brochure to Sabadell Bank with the focus on cost savings or synergies, while continuing to discuss whether to refer the government’s prohibition on a merger of the two entities to the Supreme Court in the next three years.
In its search for exits so as not to derail the OPA definitively over the Sabadell Bank, BBVA is now considering a new possibility: to reduce the acceptance condition from 50.01% of the current voting rights to around 30% or 35%, according to sources close to the entity.This way it would now become the main shareholder and in the future acquire a higher percentage.It would be a strategy similar to that followed with the Turk Garanti: there it in…
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