US EditionSabadell Urges Shareholders to Reject BBVA's Exchange Offer
12 Articles
12 Articles
In that case, the bank would have to draw up a new information brochure on the characteristics of the transaction and specify the price it would offer for the shares of its competitor
The leadership of Banco Sabadell and the financial analysts have been looking to Italy for months to compare the offer launched by BBVA. And the image they contemplate in the Italian mirror reflects a series of more careful transalpine operations and with more generous conditions. On Friday, the advice of Sabadell referred expressly to the hostile opa launched by Intesa Sanpaolo in 2020 on his rival UBI Banca, for 4.9 billion euros.
Consensus of the Nuria Álvarez Market (Renta 4) Current situation. After 16 months since BBVA launched the hostile OPA on Sabadell, BBVA finally obtained the authorization of the CNMV, being able to start the acceptance period on September 8. The equation of exchange throws a differential of -8% (today prices), which implies that the shareholder of Sabadell compensates him to sell to the market instead of going to the offer. Could BBVA improve …
elcorreogallego.es
The timing of the purchase offer (opa) of BBVA on Sabadell is further complicated. The managing director of the Catalan bank, César González-Bueno, stressed this Monday that "it is not true" that next September 24th is the last day on which his rival could improve his offer, as it was spread last week. Thus, he has remembered that the Basque entity has reserved the possibility of extending the deadline of acceptance of the opa for the shareholde…
Sabadell urges shareholders to reject BBVA's exchange offer
Banco Sabadell’s board of directors has urged its shareholders to reject the share exchange offer made by rival bank BBVA. The board firmly believes that the offer “significantly undervalues the bank, its strategic plan and its future prospects.” BBVA’s proposal entails an exchange of one of its common shares plus €0.70 ($1.17) in cash for every 5.5483 Sabadell shares. Sabadell rebuffed BBVA’s advances, having previously rejected merger pro…
The Vallesano bank will try these days to convince its shareholders that the solo project is viable.
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