Board of Spain's Sabadell bank rejects BBVA takeover bid | Business

MADRID, Sept 12, 2025 (BSS/AFP) - Spanish bank Sabadell on Friday said its board had rejected larger national rival BBVA's hostile takeover bid and urged shareholders to shun it as the clock ticked down on their final decision. The proposed deal aims to create a European banking powerhouse capable of competing with industry heavyweights such as Santander, BNP Paribas and HSBC. BBVA, Spain's second-largest bank with a large footprint in Latin America and Turkey, announced its all-share bid in May 2024, valuing Sabadell at around 15 billion euros ($18 billion). After gaining approval from the European Central Bank and Spain's competition and stock market regulators, BBVA must now win over Sabadell's shareholders during a 30-day period that started on Monday....