The CNMV closes the last details before revealing the result of BBVA’s takeover bid for Banco Sabadell
The time has come to raise the cards in BBVA’s takeover bid for Banco Sabadell. The National Securities Market Commission (CNMV) will reveal this Friday the result of the operation and in principle will put an end to 17 months of hostilities between both banks. The entire Spanish market remains in suspense before the outcome of the corporate operation of the year, whose premium has been reduced to just over 0.5% at the close of the markets this Thursday.
In these circumstances, the probability of a second takeover bid is gaining weight. This scenario would occur if BBVA achieves between 30% and 50% acceptance. The regulations force in these situations to purchase the remaining capital and pay it entirely in cash. The fine print lies in the price set by the supervisor.
