Sabadell CEO criticizes BBVA's 'unbeatable' hostile takeover offer as board calls for dismissal

Written by Emily J. Thompson, Senior Investment Analyst

Source: CNBC

Updated: Sep 12 2025

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Source: CNBC

Sabadell's Opposition to BBVA's Bid: Sabadell's CEO, Cesar Gonzalez-Bueno, criticized BBVA's hostile takeover bid as undervaluing the bank and fraught with execution risks, urging shareholders to reject the offer by the October 7 deadline.
Government Intervention and Market Reaction: The Spanish government has intervened to block operational integration for three years, complicating the merger's potential benefits, while Sabadell's shares have surged, diminishing the attractiveness of BBVA's initial offer.
Analysts' Perspectives on the Deal: Despite the challenges, analysts from Bank of America believe the deal remains viable, citing potential cost savings and a solid rationale for the merger, while BBVA has stated it will not increase its offer.
Impact on the Banking Landscape: The merger could create a banking giant controlling nearly 25% of the Spanish market, raising concerns about negative synergies and customer retention among Sabadell's small and medium-sized enterprise clients.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.