, Columnist
BBVA Makes an Offer Sabadell Investors Shouldn't Refuse
Southern European banks have been boosted by higher interest rates and steeper yield curves. That won’t last.
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Shareholders in Banco de Sabadell SA pondering the takeover offer from Spanish rival Banco Bilbao Vizcaya Argentaria SA shouldn’t think too hard. Just say “Yes!”
Sure, their stock has been on a long, steady climb to respectability, but Sabadell has been lifted by the same rising tide that has buoyed other European lenders, especially those in the south. In March, Sabadell’s share price rose above 50% of forecast book value, up from a low point of little more than 10% when the two banks failed to agree on a deal in 2020.