Previous Close | 9.85 |
Open | 9.86 |
Bid | 9.84 x 0 |
Ask | 9.84 x 0 |
Day's Range | 9.73 - 9.89 |
52 Week Range | 6.06 - 11.27 |
Volume | |
Avg. Volume | 15,747,563 |
Market Cap | 56.711B |
Beta (5Y Monthly) | 1.48 |
PE Ratio (TTM) | 7.24 |
EPS (TTM) | N/A |
Earnings Date | N/A |
Forward Dividend & Yield | 0.55 (5.58%) |
Ex-Dividend Date | Apr 08, 2024 |
1y Target Est | N/A |
The board of Spain's Banco Sabadell on Monday rejected a merger proposal by larger rival BBVA for a 12 billion euro ($12.93 billion) all-share merger, Sabadell said in a statement to the Spanish stock market supervisor. "The board believes that the proposal significantly undervalues the potential of Banco Sabadell and its standalone growth prospects," it said, calling the offer unsolicited. "Furthermore, the recent material decline and volatility in the BBVA share price increases the uncertainty around the value of the proposal," it added.
MADRID (Reuters) -Sabadell's board rejected a merger proposal by larger rival BBVA for a 12 billion euro ($12.93 billion) all-share merger, the Spanish lender said on Monday. The country's fourth-largest lender by market value said its board believed BBVA's proposal significantly undervalues the potential of Banco Sabadell and its growth prospects, calling the offer unsolicited. Last week, BBVA had offered an exchange ratio of one newly issued BBVA share for every 4.83 Sabadell shares, a premium of 30% over April 29 closing prices.
Banco Bilbao (BBVA) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).