0731 GMT - The market is still pricing in an improvement in Spanish lender BBVA's hostile takeover offer for smaller peer Sabadell, Renta 4 says in a research note. While there are several potential scenarios on the table, BBVA should get the go-ahead to reach the acceptance period without improving its offer, analyst Nuria Alvarez writes. "In this case, we are cautious about the reaction of Sabadell's share price, given that despite the good fundamentals, we believe that part of its re-rating is linked with the possible improvement of the offer," she says. BBVA's share-price performance will be more dependent on the acceptance rate and the deal's final profitability metrics, she says. According to the current estimated timeline and pending approvals, the bid's acceptance period should start toward the end of June. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 01, 2025 03:31 ET (07:31 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.