Sabadell in informal talks with Unicaja to thwart BBVA takeover
Banco Sabadell SA, a Spanish banking institution, is said to have initiated informal discussions with Unicaja Banco SA (BME:UNI), another Spanish lender, with the intent of averting a hostile takeover by BBVA (BME:BBVA) SA, a larger competitor. This information comes from Bloomberg, citing sources who wish to remain anonymous, News.az reports citing Investing.
Earlier this month, Sabadell’s executives reportedly approached some of Unicaja’s key shareholders to discuss a potential deal. However, this informal proposal is still being considered and might not result in any official merger discussions, according to the same sources.
Unicaja Banco SA has a market value of approximately €4.7 billion ($5.2 billion), which is about one-third of Banco Sabadell SA’s capitalization. The potential deal between Sabadell and Unicaja is yet to be formalized and is currently under consideration.
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