0731 GMT - The market is still pricing in an improvement in Spanish lender BBVA's hostile takeover offer for smaller peer Sabadell, Renta 4 says in a research note. While there are several potential scenarios on the table, BBVA should get the go-ahead to reach the acceptance period without improving its offer, analyst Nuria Alvarez writes. "In this case, we are cautious about the reaction of Sabadell's share price, given that despite the good fundamentals, we believe that part of its re-rating is linked with the possible improvement of the offer," she says. BBVA's share-price performance will be more dependent on the acceptance rate and the deal's final profitability metrics, she says. According to the current estimated timeline and pending approvals, the bid's acceptance period should start toward the end of June. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 01, 2025 03:31 ET (07:31 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。