0748 GMT - Spanish bank BBVA isn't expected to improve its takeover bid for smaller rival Sabadell until at least the acceptance period opens, which should take place toward the end of June, Renta4 says in a market comment. Once the period kicks off, a price improvement can't be ruled out, analysts write. BBVA this week got approval from the Spanish competition regulator to move forward with the hostile bid, though it has to comply with some remedies. The price of the all-share offer has an exchange ratio that valued Sabadell at 12 billion euros when it was announced, but this has fluctuated with moves in both BBVA and Sabadell's stocks and has been adjusted to include a cash component to reflect dividend payments. Shares rise 1.3% and 2.0%, respectively, after the bank holiday closure. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
May 02, 2025 03:48 ET (07:48 GMT)
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