Sabadell's board considers the BBVA offer insufficient and recommends shareholders not accept it
They have explained that the offer to buy shares is "aggressive" and does not "adequately reflect the intrinsic value of the bank's shares," significantly underestimating the Banco Sabadell project.
The board of directors of Banco Sabadell has unanimously rejected the offer of the BBVA, considering the offer insufficient, and has advised shareholders not to accept it.
This has been stated by the Board of Directors of Sabadell after the National Securities and Exchange Commission (CNMV) approved the above wish on 5 September.
The board of directors of Banco Sabadell has explained that the offer to buy shares is "aggressive" and "does not adequately reflect the intrinsic value of the bank's shares." They have stressed that it "significantly" underestimates the Banco Sabadell project and the prospects of generating profits only for the shareholder.
The counterpart "is not enough, it is far from the essential value of Banco Sabadell and has no control premium over that value."
Progress.
More news about the economy
2.8% of Sabadell customers with shares in the bank have accepted the BBVA offer
These shareholders represent 1.1% of the capital of Banco Sabadell. The Bank of Catalonia has explained that small shareholders who are customers own 30.8% of the capital.
The Basque Finance Council confirms the smooth running of tax collection and forecasts an increase of 5.2% by 2026
The forecast is to raise tax revenue to $21,130 million by 2026, a growth that will strengthen investment capacity in the Basque institutions, according to the Council.
Basque youth emancipate themselves almost 30 years after the European average
According to the latest study by the Basque Youth Observatory, women are emancipated almost a year earlier than men.
El Gobierno Vasco fija los servicios mínimos para la huelga general del 15 de octubre
La orden, firmada por el Departamento de Trabajo y publicada este miércoles, establece las prestaciones esenciales que deberán mantenerse en sectores clave como sanidad, transporte, educación, servicios sociales, energía o justicia.
Joel Mokyr, Philippe Aghion eta Peter Howitt ekonomialariek irabazi dute 2025eko Ekonomiaren Nobel Saria
Suediako Zientzien Errege Akademiak hiru ekonomialari horiek saritu ditu "berrikuntzak bultzatutako hazkunde ekonomikoa azaltzeagatik".
The UPV Student Council has joined the general unemployment called for October 15 in support of Palestine
In a statement, the Student Council has explained that the call for an academic stoppage has been aimed at facilitating the cessation of violence and participation in demonstrations calling for the protection of the human rights of the Palestinian people.
The National Securities and Exchange Commission will publish the outcome of the BBVA offer on Friday
One of the consequences may be that the BBVA is forced to make a Sabadell Public Purchase Offer (PPE).
The workers of the Villaves have supported the continuation of the strike in a very tight vote
The strike has been supported by 50.6% of public transport workers, that is, this option has been imposed by a difference of six votes. The TCC company has warned that it will not negotiate until unemployment is suspended.
Mondragon Corporation's Diknua cooperative has paid $1.5 million for Newfoundland and will retain 56 jobs
The Commercial Court No. 1 of Donostia-San Sebastián has authorized the operation which will involve maintaining the 56 jobs of the company in the Basque Country, "respecting working conditions and seniority".
That's the new online fraud banking check
From now on, the bank will notify the user if the recipient's name and IBAN code do not match, as this measure is intended to nip in the bud the transfer fraud.