Banco de Sabadell, S.A. (SABEN.MX)
- Reuters
Sabadell rules out M&A defence against BBVA bid, CEO says
MADRID/LONDON (Reuters) -Spain's Sabadell is not planning to try and buy a competitor as part of a potential defence strategy against rival BBVA's hostile takeover attempt, Chief Executive Officer Cesar Gonzalez-Bueno told Reuters. Spain's No. 2 lender BBVA this month stunned Spain by making the first hostile takeover attempt in Spanish banking since the 1980s, after Sabadell's board rejected an initial bid on the grounds it significantly undervalued the lender.
- Reuters
Sabadell pursues retail investors after BBVA bid turns hostile
MADRID (Reuters) -Spain's Sabadell has told its retail shareholders the bank has "excellent prospects" alone and that they may not need to make a decision about BBVA's 12.23 billion euro ($13.3 billion) hostile takeover attempt until 2025. Retail investors make up nearly half of Sabadell's shareholder structure. BBVA, whose approach turned hostile after its smaller rival rejected its initial offer, had set itself a minimum approval threshold of 50.01% of Sabadell shareholders.
- Bloomberg
Sabadell Investor Martinez Supports BBVA’s Hostile Takeover Bid
(Bloomberg) -- Banco de Sabadell SA’s second-largest investor supports the hostile takeover proposal made by rival Banco Bilbao Vizcaya Argentaria SA, giving a boost to a bid that could transform Spanish banking. Most Read from BloombergIran’s President Missing After Helicopter Crash in Dense FogEven If Alito Is Right, the Upside-Down Flag Was WrongGantz Says He’ll Quit Unless Netanyahu Moves to New War PlanChina-Bound Oil Tanker Hit by Houthi Missile in Red Sea, US SaysSpeedier Wall Street Trad
