The Spanish regulator authorized BBVA's increased takeover bid for Banco Sabadell on September 25, 2025, which includes the elimination of the cash component. This regulatory approval is a critical step, allowing the tender offer period for Sabadell shareholders to officially begin.
Shareholders now have until October 10, 2025, to agree to the revised offer, which was raised by 10% and is now an all-share transaction. This authorization clears a significant regulatory hurdle, enabling BBVA to proceed with its hostile takeover attempt.
For investors, this development signals progress in BBVA's strategic objective to acquire Sabadell and consolidate its position in the Spanish banking market. The regulatory green light is essential for the deal to move forward, despite ongoing opposition from Sabadell's board.
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