18
Jul
BBVA’s takeover bid for Sabadell would ultimately impact existing bancassurance partnerships with Allianz and Zurich respectively
In early May, the Spanish bank BBVA made an initial all-share offer for Sabadell to merge, which was rejected by Sabadell’s board, prompting BBVA to turn hostile and take the offer directly to Sabadell’s shareholders. BBVA’s bid is subject to a minimum acceptance threshold of 50.01% of Sabadell’s shareholders in addition to the relevant regulatory approvals required for both the takeover bid and the...