Zurich Insurance, Sabadell's second-largest shareholder with a 4.95% stake, announced on October 7, 2025, that it does not intend to tender its shares to BBVA's takeover offer. This rejection from a major investor signals significant opposition to the hostile bid.
Despite this, BBVA believes its bid will still garner support and has reserved 8 billion euros to fund the mandatory offer for Sabadell. This financial commitment underscores BBVA's determination to proceed with the acquisition, even in the face of shareholder resistance.
For investors, this indicates that while BBVA is financially prepared for the acquisition, securing full shareholder acceptance remains a challenge. The opposition from a key institutional investor could influence other shareholders and potentially impact the final outcome of the takeover bid.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.