Reported 4 months ago
Spain's Sabadell is reaching out to its retail shareholders, assuring them of the bank's strong prospects as an independent entity and suggesting that they may not need to make a decision on BBVA's hostile takeover attempt worth 12.23 billion euros until 2025. Retail investors constitute a significant portion of Sabadell's shareholder base, and the bank is emphasizing its positive outlook and recent stock performance to dissuade the takeover. BBVA, which turned hostile after Sabadell rejected its initial offer, is aiming to secure a minimum approval threshold of 50.01% of Sabadell shareholders, making it crucial for Sabadell to win over smaller investors to thwart the takeover bid.
Source: YAHOO