Spanish banking giant BBVA has raised its takeover bid for rival Banco Sabadell by 10%, offering one BBVA share for every 4.8376 shares of Sabadell. The revised all-share proposal aims to be tax-neutral for shareholders, provided more than 50% of Sabadell’s voting rights accept the deal.<\/p>\n\n\n\n
The new offer values Banco Sabadell shares at \u20ac3.39 each \u2014 the highest valuation seen in over a decade. BBVA noted that the offer\u2019s total value has surged 60% since April 2024, increasing from \u20ac12.2 billion to \u20ac19.5 billion, the day before merger talks became public.<\/p>\n\n\n\n
BBVA CEO Onur Gen\u00e7 emphasized the benefits of the merger for Sabadell shareholders, citing a projected 41% increase in earnings per share compared to remaining independent. \u201cWe invite them to join us in building a project that will bring significant benefits to customers, employees and shareholders of both entities and to society as a whole,\u201d said Gen\u00e7.<\/p>\n\n\n\n
Under the revised offer, Sabadell shareholders would own 15.3% of the combined entity, allowing them to participate in the future growth of a larger, more competitive European bank.<\/p>\n\n\n\n
The improved bid still awaits approval from the Spanish securities regulator, CNMV. Once cleared, a new take-up period will begin. BBVA Chair Carlos Torres Vila framed the proposal as a \u201chistoric opportunity\u201d for Sabadell shareholders to secure a premium valuation and enjoy stronger earnings potential post-merger.<\/p>\n\n\n\n
\u201cWith this improved offer, we are putting an extraordinary proposal in the hands of Banco Sabadell shareholders,\u201d said Torres Vila. \u201cAll of this will result in a significant increase in expected earnings per share if they tender their shares.\u201d<\/p>\n\n\n\n
Earlier this month, Banco Sabadell\u2019s board urged shareholders to reject BBVA\u2019s original bid, arguing it undervalued the bank\u2019s prospects. Whether the improved terms will change that stance remains uncertain.<\/p>\n\n\n\n
Additionally, the Spanish government has imposed a three-year freeze on any operational consolidation between the two banks if the merger moves forward. This delay could impact the timeline for synergy realization and integration planning.<\/p>\n","protected":false},"excerpt":{"rendered":"
Revised offer raises valuation to \u20ac19.5 billion Spanish banking giant BBVA has raised its takeover bid for rival Banco Sabadell by 10%, offering one BBVA share for every 4.8376 shares of Sabadell. The revised all-share proposal aims to be tax-neutral for shareholders, provided more than 50% of Sabadell’s voting rights accept the deal. The new […]<\/p>\n","protected":false},"author":10772,"featured_media":12792,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[2793,2801,2794,2795,2796,2792,2800,2799,2798,2797],"class_list":{"0":"post-12751","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-banco-sabadell","9":"tag-bank-acquisition","10":"tag-bbva","11":"tag-carlos-torres-vila","12":"tag-cnmv","13":"tag-earnings-per-share","14":"tag-merger","16":"tag-spanish-banking","17":"tag-takeover-bid"},"_links":{"self":[{"href":"https:\/\/globalgazette.us\/index.php?rest_route=\/wp\/v2\/posts\/12751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalgazette.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalgazette.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalgazette.us\/index.php?rest_route=\/wp\/v2\/users\/10772"}],"replies":[{"embeddable":true,"href":"https:\/\/globalgazette.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12751"}],"version-history":[{"count":1,"href":"https:\/\/globalgazette.us\/index.php?rest_route=\/wp\/v2\/posts\/12751\/revisions"}],"predecessor-version":[{"id":12793,"href":"https:\/\/globalgazette.us\/index.php?rest_route=\/wp\/v2\/posts\/12751\/revisions\/12793"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalgazette.us\/index.php?rest_route=\/wp\/v2\/media\/12792"}],"wp:attachment":[{"href":"https:\/\/globalgazette.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalgazette.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalgazette.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}