BBVA raises bid for Sabadell, now offers 1 BBVA share for 4.8376 shares

Core Viewpoint - Spanish bank BBVA has increased its bid for rival Sabadell, offering 1 of its own shares for every 4.8376 Sabadell shares, marking a significant move in the Spanish banking sector as it would represent the second-largest banking deal in Spain by assets [1] Company Summary - BBVA is actively pursuing a merger with Sabadell, indicating a strategic shift in its growth strategy within the competitive banking landscape of Spain [1] - The revised offer reflects BBVA's commitment to consolidating its position in the market and enhancing its asset base through this potential acquisition [1] Industry Summary - The proposed deal, if successful, would create the second-largest banking entity in Spain by assets, highlighting ongoing consolidation trends within the European banking sector [1] - This move underscores the competitive dynamics in the Spanish banking industry, where larger banks are seeking to expand their market share through mergers and acquisitions [1]