US EditionSabadell Urges Shareholders to Reject BBVA's Exchange Offer - Spain Financial News
10 Articles
10 Articles
The president of the National Securities Market Commission (CNMV), Carlos San Basilio, explained this Monday that if BBVA did not finally achieve 50% of the voting rights in the OPA on Sabadell, and chose to launch a second offer on 30%, it would have a month to do so.In statements to the media after participating in the presentation of the update of the document on relations between listed companies and the media, San Basilio has indicated that…
The president of Banco Sabadell says that the price the Basque bank is offering is 10% below the market price
Oliú believes 9.8% negative premium and extraordinary dividend from TSB sale will derail BBVA's bid
The Corner Norbolsa | The Banco Sabadell chairman rules out BBVA’s takeover bid succeeding due to the lack of a premium (-9.8%) and the elimination of the extraordinary dividend from the sale of TSB, and assures that the operation would only be considered with a premium of 30-40%, as is usually the case in successful takeover bids. In addition, the trade unions representing Banco Sabadell employees expressed their rejection of BBVA’s takeover...
Norbolsa Market Consensus The president of the bank dismisses that the BBVA OPA prospers due to lack of premium (-9.8%) and the elimination of the extraordinary dividend of the sale of the TSB and assures that only the operation would be posed with a 30-40% premium, as usually happens in the successful OPAs. In addition, the unions representatives of the workers of Banco Sabadell expressed their rejection to BBVA's OPA through a series of opini…
The Board of Banco Sabadell unanimously rejected on Friday, September 12, BBVA’s hostile takeover bid. The offer is essentially exchange, with a residual component of less than 5% cash, and does not include an entirely cash alternative for the shareholders of Banco Sabadell who, are interested in accepting the Offer, do not want to receive shares of the Basque entity. In this sense, the price of the shares of the Catalan entity is more correlate…
Spain’s Sabadell Urges Shareholders to Reject BBVA’s Exchange Offer
Spain’s Banco Sabadell has called on its shareholders to reject BBVA’s proposed share exchange offer, marking a significant development in the ongoing tussle between two of the country’s leading banks. The dispute underscores the mounting tensions in Spain’s banking sector as institutions seek strategic moves to strengthen their market positions amid a challenging economic landscape. [...]
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