1543 GMT - BBVA's offer modification is actually a clarification of what the acceptance threshold from Sabadell shareholders means, RBC says in a research note. The Spanish bank said the offer excludes treasury shares, reducing the minimum acceptance condition of more than 50.01% by 0.7% of the votes. This follows the regulator's request and has no implications on requirements for further signoffs or on delays in timing. "It feels like there was sloppy drafting by either the bank's lawyers or bankers. The bank has clarified that the amendment is no reflection on how close they think a vote could actually be," the analysts write. RBC expects the deal to go through, probably in the first half of the year with some relatively minor remedies and a 10% increase in the offer price. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 10:43 ET (15:43 GMT)
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