Link Securities | On 25 September 2025, the National Securities Market Commission (CNMV) has agreed to authorise the modification of the characteristics of the voluntary takeover bid for Banco Sabadell shares made by BBVA, which was authorised by the CNMV on 5 September 2025. In accordance with the content of the registered documentation, the modification of the offer consists of an improvement in the mixed consideration offered, with a change…

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…

Link Securities | Mexican businessman David Martínez, one of Banco Sabadell’s (SAB) main shareholders, has asked BBVA (BBVA) to improve its current offer price, according to Expansión newspaper. Martínez, who acquired a stake in SAB more than a decade ago, controls 3.8% of the bank, behind BlackRock (6.9%) and Zurich (4.9%). In Martínez’s opinion, and as he ‘requested to be recorded’ in the SAB Board report, ‘the transaction presented by…

Link Securities | BBVA will once again update the exchange ratio for its takeover bid for Banco Sabadell after the Catalan bank paid its shareholders a new cash dividend of €0.07 per share, according to the newspaper Expansión. The bank will therefore change its offer from one BBVA share plus €0.70 for every 5.3456 Sabadell shares to one newly issued share of the acquiring bank plus the aforementioned €0.70 for…