Banco Bilbao (BBVA) Climbs to New High on Failed $19-Billion Sabadell Bid

Core Viewpoint - Banco Bilbao Vizcaya Argentaria SA (NYSE:BBVA) experienced a significant stock price increase following the announcement of its failed $19 billion takeover bid for Banco Sabadell, reaching a new 52-week high [1][2]. Group 1: Stock Performance - Banco Bilbao's stock surged to a peak of $20 during intra-day trading, ultimately closing at $19.48, reflecting a 6.68% increase for the day [1]. - The failed takeover bid resulted in a positive market reaction, indicating investor confidence despite the unsuccessful acquisition attempt [1][2]. Group 2: Takeover Attempt Details - The takeover bid was officially terminated after Banco Bilbao secured only 25% of the necessary shareholder approval, falling short of the 50% threshold [2]. - The acquisition effort began in April 2024 and faced significant government opposition and concerns regarding job losses, leading to an extensive anti-trust review [3]. Group 3: Future Actions - Following the failed bid, Banco Bilbao announced it would resume shareholder remuneration starting October 31, including a pending €1 billion share buyback [4].