Post a Comment Print Share on Facebook

BBVA ADRs fall almost 2% on Wall Street

BBVA has released the financial details of the proposed merger with Sabadell.

- 4 reads.

BBVA ADRs fall almost 2% on Wall Street

BBVA has released the financial details of the proposed merger with Sabadell. These contemplate an exchange ratio of one newly issued BBVA share for every 4.83 Sabadell shares, which represents a premium of 30% over the price prior to the offer and 17% over yesterday's closing.

Given that the Spanish stock market remains closed for Labor Day, as well as the rest of the European markets, the only reference to know how the market receives this offer is BBVA's ADRs on the New York Stock Exchange.

These deflated 8.85% yesterday, after it became known that the bank chaired by Carlos Torres wants to resume an operation that failed in 2020.

Today, the bank's ADRs register a drop of almost 2%, which leads them to lose $10.50 at times. In the last month, they have accumulated a drop of 11.7%, although it is true that so far this year they have risen 15% and in the last 12 months they have shot up 51%.

Despite the punishment received on the stock market, analysts said yesterday that they viewed the operation favorably, but warned that the premium offered by BBVA should be considerable.

Keywords:
MercadosBanca
Avatar
Your Name
Post a Comment
Characters Left:
Your comment has been forwarded to the administrator for approval.×
Warning! Will constitute a criminal offense, illegal, threatening, offensive, insulting and swearing, derogatory, defamatory, vulgar, pornographic, indecent, personality rights, damaging or similar nature in the nature of all kinds of financial content, legal, criminal and administrative responsibility for the content of the sender member / members are belong.