Banco Sabadell shares close today with an increase of 3.56%

Banco Sabadell shares close today with an increase of 3.56%

Economy

BBVA shares followed the opposite behavior and recorded a new session of losses, down 3.88%.

Formulation via Empresa
03.05.2024 09.49 h.

Actions Banco Sabadell They closed the new day in the green and rose 3.56% to €1.86. This is the first full session in the markets after Wednesday PBVA It provided more details about the merger offer with Sabadell which expects, among other things, a revaluation of the shares by 30% compared to their value on April 29 (€1.73). With today’s session, the value of shares has already increased by about 7% compared to Monday. In fact, this is the fifth day in a row that the shares of the Catalan entity closed the day with gains. In contrast, BBVA shares followed the opposite behavior and recorded a new session of losses, down 3.88%, losing 10 euros (9.78).


BBVA admitted on Tuesday afternoon that it had asked Banco Sabadell to begin talks with a view to merging the two entities, and 24 hours later, coinciding with May 1, it announced details of its first offer. The Basque entity offered a newly issued stake of the bank for 4.83% of Banco Sabadell, 30% more than its closing value on Monday.

The Basque entity offered a newly issued banking stake in exchange for 4.83 Banco Sabadell shares, a 30% increase over Monday’s closing value.

In addition, it will facilitate three seats on the board – one for vice-president – and proposes to have a dual headquarters for the company, keeping the headquarters in Sant Cugat and “full commitment to Catalonia”. The bank says it will maintain the Sabadell brand along with the BBVA brand in areas where it may have “relevant business interests.”

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