Spain’s CNMV reports only 2.8% of Sabadell shareholders accepted BBVA’s takeover bid, with the remaining 97.2% declining. Clients holding 31% of Sabadell’s shares also rejected the offer. The fate of the remaining shareholders will be announced on October 17, 2025. If over half accept, BBVA takes control; under 30% voids the offer.

Mexican investor David Martínez Guzmán supports the merger, while Zurich Insurance declines participation in BBVA’s bid for Sabadell. BBVA has set aside €8bn for a cash bid if shareholders reject the proposed €17bn acquisition. BBVA CEO Onur Genc revealed this contingency plan in an interview with Reuters.

BBVA’s takeover bid secures only 2.8% acceptance from Sabadell shareholders. Last month, BBVA increased its acquisition offer by 10%, valuing Sabadell’s shares at €3.39 each. BBVA initially extended an offer to acquire Sabadell in April last year.

Read more at Yahoo Finance: BBVA’s takeover bid secures only 2.8% acceptance from Sabadell shareholders