War drums on the bench: first hostile takeover in the sector since 1987. And as then, with an uncertain future. BBVA announced early this Thursday its intention to launch a public takeover bid for the Sabadelljust three days after the board of directors of the Catalan entity reject the friendly operation offered by his rival and bet on continue alone, considering that the proposal “significantly undervalues” its entity. Despite this, the second Spanish bank has decided to try to convince the shareholders of the fourth with an offer that does not improve the economic conditions rejected by the administrators (30% bonus and valuation of Sabadell at 12,284 million euros, according to the price prior to the announcement of the offer last week).

You May Also Like

More From Author

+ There are no comments

Add yours