BBVA’s takeover bid secures only 2.8% acceptance from Sabadell shareholders

Spain’s market regulator (CNMV) has revealed that a mere 2.8% of Sabadell shareholders with shares deposited at the bank have accepted the takeover offer from banking giant BBVA. Approximately 31% of Sabadell's share capital is held by clients who are also shareholders. It implies that an overwhelming 97.2% have declined the bid, reported Catalan News. In total, the shares tendered in favour of the takeover amount to only 1.1% of Sabadell’s total share capital. The fate of the remaining shareholders is ...