Spain\u2019s 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.<\/p>\n
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.<\/p>\n
In total, the shares tendered in favour of the takeover amount to only 1.1% of Sabadell\u2019s total share capital.<\/p>\n
The fate of the remaining shareholders is yet to be disclosed, with an announcement expected on 17 October 2025.<\/p>\n
If over half of the shareholders agree to the offer, BBVA would assume control of Sabadell.<\/p>\n
Conversely, if the acceptance rate is below 30%, the offer will be automatically voided.<\/p>\n
However, BBVA is not without options if the acceptance rate lands between 30% and 50%.<\/p>\n
In such a scenario, BBVA could initiate a second, hostile takeover bid, which would need to be a cash offer and receive CNMV’s approval.<\/p>\n
Mexican investor David Mart\u00ednez Guzm\u00e1n has voiced his support for the merger, citing the potential for increased competitiveness, reported Bloomberg<\/a>.<\/p>\n In contrast, Zurich Insurance has declined to participate, labelling BBVA\u2019s offer as “not attractive.”<\/p>\n Sabadell has indicated that retail investors make up about 41% of its shareholder base, with 80% of those being clients of the bank as well.<\/p>\n