Finance
Spain's market supervisor authorises bank BBVA's higher offer for Sabadell
Published by Global Banking and Finance Review
Posted on September 25, 2025
2 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on September 25, 2025
2 min readLast updated: January 21, 2026
Spain's market supervisor approves BBVA's €17 billion bid for Sabadell, with shareholders given until October 10 to respond.
MADRID (Reuters) -Spain's stock market supervisor said on Thursday it had authorised banking group BBVA's improved 17 billion euro ($20 billion) bid for smaller rival Sabadell, which was announced on Monday.
Shareholders will now have until October 10 to tender their shares, compared with October 7 for the previous offer, with results expected to be published seven days after the end of the acceptance period.
Sabadell has up to five days from the authorisation to issue an opinion on the improved new bid, though Chief Executive Cesar Gonzalez Bueno has already said the board would "probably" not recommend the new price he still considered insufficient.
Under the new terms, BBVA is offering one of its own shares for every 4.8376 Sabadell shares.
This represented an increase of 10% to 3.39 euros per share, or about 17 billion euros, from the previous offer of 3.084 euros per share, or 15.5 billion euros, based on closing prices on September 19 and the previous exchange ratio.
The bid represented a premium of 1.6% to Friday's market close. As shares in Sabadell have underperformed BBVA's since the new offer was announced, the premium has risen to 2.89% as of Wednesday's close.
($1 = 0.8482 euros)
(Reporting by Jesús Aguado. Editing by Inti Landauro and Mark Potter)
An equity offer is a proposal made by a company to purchase shares from another company or its shareholders, often at a premium to the current market price.
A stock market supervisor is a regulatory authority responsible for overseeing the operations and activities of stock exchanges and ensuring compliance with financial regulations.
A shareholder is an individual or entity that owns shares in a company, giving them a claim on part of the company's assets and earnings.
A bid in finance refers to an offer made by an investor to purchase a security at a specified price. It indicates the maximum price a buyer is willing to pay.
A premium in stock trading refers to the amount by which the price of a security exceeds its face value or intrinsic value, often reflecting investor demand.
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