BBVA Chair Carlos Torres Says Main Threat to Sabadell Bid Is Time [BNN Bloomberg (Canada)]
Banco Bilbao Vizcaya Argentaria S.A. (BBVA)
US:NYSE Investor Relations:
shareholdersandinvestors.bbva.com
Company Research
Source: BNN Bloomberg
Two months into his battle for the smaller rival, the 58 year-old chairman of Banco Bilbao Vizcaya Argentaria SA is racing to persuade stakeholders of the merits of a deal that would create a giant with more than €1 trillion in assets. BBVA, which has ruled out increasing its offer, argues a combination would lead to cost savings and funding advantages. But opposition from the government, which can veto a legal merger, has raised the prospect of a drawn-out process. “Time can make things different,” Torres said in an interview in London. “Things could happen in the cycle that would make what looks attractive, less attractive or more attractive.” Sabadell, which has rejected the all-share offer as too low, is counting on its own stock performance to derail a deal. The bank pledged to return €2.4 billion to shareholders over 2024 and 2025 when it rejected BBVA's approach. Torres suggested that pledge overstates Sabadell's ability to generate excess cash in the long run. “That's a
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BBVA
Earnings
- 4/29/24 - Beat
BBVA
Analyst Actions
- 6/12/24 - BNP Paribas
BBVA
Sec Filings
- 6/27/24 - Form SBSE-C
- 6/21/24 - Form SBSE-A
- 6/21/24 - Form 425
- BBVA's page on the SEC website