Spain's BBVA raises its bid for Sabadell

Contributing sentiments towards policy:

51% : "The consideration will now be entirely in shares, so shareholders with capital gains would not be subject to taxation in Spain, if acceptance exceeds 50% of Banco Sabadell's voting rights," it said in a statement. BBVA's board has also agreed to waive both the possibility of making further improvements to the consideration and of extending the acceptance period. BBVA had previously offered 1 BBVA share for each 5.5483 Sabadell shares and 0.70 euros in cash, the equivalent to around €3.084 per share or €15.49 billion taking into account closing prices on Friday September 19 and the previous exchange ratio.

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