On Thursday, 16 October 2025, BBVA announced that its hostile takeover bid for Banco de Sabadell had failed to reach the required 30% share threshold in the public tender offer. The bid, which had been launched earlier in October, fell short of the minimum acceptance level set by BBVA.
The failure to secure the 30% stake means BBVA cannot acquire Sabadell, effectively halting the planned merger that was intended to expand BBVA’s scale in Spain and improve cost synergies. The bid had been a key component of BBVA’s strategy to strengthen its competitive position in the Spanish market.
With the takeover attempt unsuccessful, BBVA must reassess its growth strategy and may need to explore alternative avenues to achieve its expansion objectives. The outcome also signals to investors that the anticipated benefits from the Sabadell acquisition will not materialize in the near term.
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