BBVA Unlikely to Improve Sabadell Offer Before Offer Period Opens -- Market Talk

Dow Jones

May 02, 2025

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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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) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 02, 2025 03:48 ET (07:48 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BBVA Unlikely to Improve Sabadell Offer Before Offer Period Opens -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBBVA Unlikely to Improve Sabadell Offer Before Offer Period Opens -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-05-02 15:48</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     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) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 02, 2025 03:48 ET (07:48 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BBVA","symbol_name":"西班牙外换银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2532678899","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2532678899","pubTimestamp":1746172080,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"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. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BBVA":"西班牙外换银行","BK4207":"综合性银行"},"translate_title":"BBVA不太可能在要约期开始前提高Sabadell的报价——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BBVA":1},"content_text":"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) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 02, 2025 03:48 ET (07:48 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}