BBVA has approached Banco Sabadell with a proposal for a friendly merger, a combination that would create a group with around €1 trillion in assets. BBVA's approach became public on 30 April 2024.
PROPOSED COMBINATION
A merged entity carrying the assets of both lenders would rank second in Spain only to Santander.
The approach was framed as a friendly transaction.
SABADELL BOARD REJECTS TERMS
Sabadell's board rejected the terms put forward by BBVA.
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