BBVA's takeover bid secures only 2.8% acceptance from Sabadell shareholders [Yahoo! Finance]
ZURICH INS GROUP S/ADR (ZURVY)
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Source: Yahoo! Finance
Approximately 31% of Sabadell's share capital is held by clients who are also shareholders. It implies that an overwhelming 97.2% have declined the bid, reported Catalan News. In total, the shares tendered in favour of the takeover amount to only 1.1% of Sabadell's total share capital. The fate of the remaining shareholders is yet to be disclosed, with an announcement expected on 17 October 2025. If over half of the shareholders agree to the offer, BBVA would assume control of Sabadell. Conversely, if the acceptance rate is below 30%, the offer will be automatically voided. However, BBVA is not without options if the acceptance rate lands between 30% and 50%. In such a scenario, BBVA could initiate a second, hostile takeover bid, which would need to be a cash offer and receive CNMV's approval. Mexican investor David Martínez Guzmán has voiced his support for the merger, citing the potential for increased competitiveness, reported Bloomberg In contrast, Zurich Insuranc
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