Spain Rejects BBVA's Offer for Banco Sabadell
The Spanish government has turned down a merger proposal from Banco Bilbao Vizcaya Argentaria (BBVA) to Banco Sabadell shareholders, thwarting BBVA's plans to consolidate further within Europe's banking sector. BBVA described the offer as highly favorable, proposing one BBVA share for every 4.83 Sabadell shares, a premium based on recent stock prices. This rejection has reignited discussions on banking consolidation across Europe. https://www.euronews.com/business/2024/05/09/spanish-government-rejects-new-bbva-bid-to-win-over-sabadell-shareholders