BBVA raises takeover bid for Banco Sabadell

Spanish bank BBVA has revised its acquisition offer for local peer Banco Sabadell, proposing a 10% increase from its previous offer. The updated offer translates to one new BBVA share for every 4.8376 Banco Sabadell shares. This new all-share offer is designed to be tax neutral for shareholders, provided that more than 50% of Banco Sabadell's voting rights are accepted. In a statement, BBVA said that the new offer values ​​Banco Sabadell shares at €3.39 per share, the highest valuation in over a decade. ...