Aurelio Medel (5 Días) | The Catalan bank entangles the government and the community’s establishment with its commercial importance and now says it’s a matter of price. The hostile takeover bid launched by BBVA for Sabadell is a case study that could address various aspects, such as the actions of governments and regulators, boards of directors, or the different communication strategies of both entities. But when you analyze the details…

BBVA announced that its Board of Directors has decided to modify the terms of the takeover bid (OPA) for Banco Sabadell by improving the consideration offered. The previous offer (one BBVA ordinary share and €0.70 in cash for every 5.5483 SAB ordinary shares) will be changed in nature and will now be entirely in newly issued BBVA ordinary shares. The new exchange ratio will be one BBVA ordinary share for…

Today, the acceptance period for the takeover bid for Banco Sabadell finally begins. BBVA announced the bid on May 9, 2024, after Sabadell’s board rejected the Basque bank’s friendly offer. In the year and a half since, BBVA has had to secure approval from the Spanish National Markets and Competition Commission (CNMC)—which imposed tough conditions to ensure competition—the Government—which has forbidden the Basque bank from merging for three years, thus…