"Banco Sabadell Remains Independent as BBVA's Takeover Bid Fails to Meet Shareholder Support"

"On October 17, 2025, Banco Sabadell announced that BBVA's public takeover bid, launched in May 2024, received only 25.47% shareholder support and has lapsed, as it did not meet the required acceptance threshold. Banco Sabadell will remain an independent bank, with Cravath serving as its U.S. counsel in this matter."

On October 17, 2025, the law firm Cravath represented Banco Sabadell in connection with a public takeover bid launched by BBVA. The transaction involved BBVA's attempt to acquire Banco Sabadell, which ultimately received support from only 25.47% of shareholders, leading to the bid's lapse as it did not meet the minimum acceptance threshold required for completion. As a result, Banco Sabadell will continue to operate as an independent bank. The Cravath team involved in this matter included partners Ting S. Chen and Daniel J. Cerqueira, along with associates Mary Jean Perzik and Y. Grace Lin, who focused on corporate and activist defense matters. Additionally, partners John W. White and Kimberley S. Drexler, along with of counsel Lisa M. Kohl, handled corporate governance matters. Partner Jeffrey T. Dinwoodie and associate Liam Ives Morris worked on financial institutions matters, while partner Ron Creamer provided expertise on tax matters.

"Banco Sabadell Remains Independent as BBVA's Takeover Bid Fails to Meet Shareholder Support"

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