BBVA Opens €15 Billion Sabadell Bid to Investors After Nod (1)

BBVA SA is finally submitting its takeover bid for Banco Sabadell SA to the target’s shareholders, ushering in the final stage of a pursuit that’s already lasted since early last year.

The lender on Friday received the last outstanding regulatory approval as Spain’s markets regulator CNMV authorized the offer, according to a release. BBVA subsequently said in a separate release that the take-up period for investors has been scheduled to kick off on Sept. 8.

BBVA under Chairman Carlos Torres has been doggedly pushing the deal forward since it was first disclosed on April 30, 2024. He’s had ...