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Stock impact report

BBVA Adds Cash to Sabadell Takeover Bid as Both Pay Dividends [BNN Bloomberg (Canada)]

Banco Bilbao Vizcaya Argentaria S.A. (BBVA) 
US:NYSE Investor Relations: shareholdersandinvestors.bbva.com
Company Research Source: BNN Bloomberg
Spain's second-largest bank now proposes one newly issued share for every 5.0196 Sabadell shares plus €0.29 ($0.32) in cash. The cash amount is equivalent to an interim dividend BBVA intends to pay out. The lender previously offered one of its shares for every 4.83 in Sabadell. The changes “are intended to maintain the economic terms of the offer equivalent, following the dividend payments” disclosed by the two lenders, BBVA said in a statement late on Tuesday. They are “in accordance with the prior announcement of the offer.” BBVA, whose official name is Banco Bilbao Vizcaya Argentaria SA, made a takeover bid for rival Sabadell in early May. The target's management has rejected the offer as too low, and both banks have since stepped up payouts as they seek to convince investors about their opposing plans. BBVA has repeatedly ruled out improving the offer. Sabadell announced in July it will pay €2.9 billion to shareholders over this year and next, up from $2.4 billion promi Show less Read more
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