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BBVA launches hostile bid for Banco Sabadell; FCA chair surprised by backlash over ‘name-and-shame’ plan

Plus: Raffeisen drops €1.5bn bid linked to sanctioned Russian oligarch, and more
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BBVA launches hostile bid for Banco Sabadell; FCA chair surprised by backlash over ‘name-and-shame’ planImage: Paul Yeung/Bloomberg

Spanish bank BBVA has launched a hostile bid for Banco Sabadell following the rejection of its proposal by the latter’s board. The all-share offer, directed at Sabadell’s shareholders, comes in the wake of Sabadell’s dismissal of BBVA’s initial approach, citing undervaluation. 

According to the Financial Times, the offer’s original value of €12bn has decreased due to BBVA’s declining shares.

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