BBVA has announced that it has received approval from the U.S. securities regulator to potentially lower the minimum acceptance threshold for its bid to acquire Sabadell. The Spanish banking group disclosed that the approval from the Securities and Exchange Commission (SEC) allows for adjustments to the terms of its current offer, which could influence the likelihood of a successful acquisition.
The move comes as BBVA continues to explore options to strengthen its position in the strategic transaction. By potentially lowering the acceptance threshold, BBVA aims to increase the chances of reaching the required number of shares to complete the deal. The acquisition of Sabadell, another major Spanish bank, is part of BBVA’s broader strategy to expand its footprint in the region.
BBVA emphasized that receiving SEC approval does not automatically mean changes to the bid, but it provides the regulatory clearance needed to modify terms if the company chooses to do so. Market analysts noted that such adjustments could influence investor sentiment and the overall dynamics of the takeover process.
The companies involved have yet to specify any immediate changes to the bid terms. The development underscores ongoing negotiations and strategic maneuvers as BBVA seeks to secure a controlling stake in Sabadell, with regulatory permissions serving as a key step in the process.