Spain 2nd Largest Bank $60 Billion BBVA $12.9 Billion All-Share Offer for 4th Largest Bank Banco de Sabadell Rejected by Banco de Sabadell Board
10th May 2024 | Hong Kong
Spain 2nd largest bank BBVA (10/5/24: $60 billion market value) $12.9 billion (EUR 12 billion) all-share offer for the 4th largest bank Banco de Sabadell has been rejected by the Banco de Sabadell board. BBVA (9/5/24): “BBVA’s Board of Directors is presenting an offer to Banco Sabadell shareholders so they can benefit from an exceptionally favorable proposal. The deal offers one BBVA share for every 4.83 of Sabadell, representing a 30 percent premium over the closing price of both banks on April 29th, and a 50 percent premium over the weighted average prices of the past three months. The transaction has very positive financial impacts thanks to relevant synergies and the complementarity and excellence of both banks. The operation will create one of the best banks in Europe, with a loan market share close to 22 percent in Spain. Furthermore, BBVA will maintain its current shareholders distribution policy and its commitment to distribute any excess capital above 12 percent.”
“ Spain 2nd Largest Bank $60 Billion BBVA $12.9 Billion All-Share Offer for 4th Largest Bank Banco de Sabadell Rejected by Banco de Sabadell Board “
Spain 2nd Largest Bank $60 Billion BBVA $12.9 Billion All-Share Offer for 4th Largest Bank Banco de Sabadell Rejected by Banco de Sabadell Board
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