BBVA Opens €15 Billion Sabadell Bid to Investors After Nod

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.