The premium of BBVA’s takeover bid for Sabadell fades at the gates of its outcome
Relative calm in the market waiting to know the outcome of BBVA’s takeover bid for Sabadell. The operation, which has lasted for more than 17 months, comes to an end this Friday, when the National Securities Market Commission (CNMV) will reveal the support obtained by Carlos Torres for his plan to create the second largest bank in Spain. In this sense, the possibility of a second takeover bid begins to gain followers as the date approaches and devastates the premium proposed by BBVA.
The correlation between both banks has returned to negative territory again and shortly before the opening of Wall Street it is slightly below -0.24%. In practice, this means that everyone who has accepted the offer once again loses money with the share exchange, stipulated at 1 BBVA title for every 4.8376 Sabadell shares. BBVA is trading with a correction of 2%, to 15.46 euros per share, while Sabadell fell 1% and stands at 3.2 euros.
