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0 0.0019762845849802 0.0019762845849802 0.00395256916996039 0.00494071146245049 0.00592885375494058 0.00494071146245049 0.00494071146245049
Stock impact report

BBVA Launches All-Shares Tender Offer for Sabadell [BNN Bloomberg (Canada)]

Banco Santander, S.A. Sponsored ADR (Spain) (SAN) 
Company Research Source: BNN Bloomberg
Spain's second-largest bank is making an all-share offer with similar terms to the previously rejected offer it outlined in a letter to Sabadell's board on April 30, according to a BBVA filing on Thursday. The move to go hostile — which has little precedent in Spanish banking since the late 1980s — underlines how relations have increasingly soured between the two lenders ever since news of the potential deal emerged last week. The bid was immediately criticized by the Spanish government, which said the deal could increase the risk of instability in Spain's financial system. Economy Minister Carlos Cuerpo said in a interview with state television broadcaster TVE that the government has the final say on any deal. The deal could be bad for competition and add uncertainty and volatility to the country's financial sector, he said. Read More: Spain Says It Has Last Word to Approve BBVA Offer for Sabadell The comments come ahead of regional elections in Catalonia on May 12, with Pri Show less Read more
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