Banco de Sabadell, S.A. (0H00.IL)
- Reuters
Sabadell CEO plays down 'white knight' prospect to stop BBVA bid
Banco Sabadell is unlikely to get a competing takeover offer to scupper a hostile bid from rival BBVA because other banks would also face competition concerns, Sabadell's CEO Cesar Gonzalez-Bueno said. Sabadell is trying to fend off BBVA's hostile approach, and one tactic target companies can use to defend themselves is to find an alternative buyer, a so-called 'white knight', to make an offer on friendlier terms. Gonzalez-Bueno told journalists that he does not foresee other Spanish banks like Caixabank or Banco Santander making a bid, as they would be likely to face similar antitrust issues as BBVA.
- PA Media: Money
TSB profits slump amid ‘challenging’ mortgage market
The company, which is part of Spain’s Banco Sabadell, reported a pre-tax profit of £111.6 million for the six months to June.
- Bloomberg
BBVA Investors Approve Sabadell Bid in Boost for Chairman
(Bloomberg) -- BBVA SA’s investors voted to support the lender’s bid for rival Banco Sabadell SA, allowing Chairman Carlos Torres to clear one hurdle in his attempt to create a domestic banking giant.Most Read from BloombergBiden’s Defiant Interview Unlikely to Calm Democratic NervesA $14 Billion Walmart Heir Joins Novogratz Urging Biden ExitStocks Up as Path to September Fed Cut Gets Wider: Markets WrapSingapore Couples Are Marrying Earlier to Buy Homes, Leading Some to RegretSingapore Is Makin
