Spain's BBVA announces a $13 billion hostile takeover bid for Sabadell. Unfriendly takeover offers are uncommon in European banking. A new model is the effective securing of UBI Banca by Intesa in 2020. BBVA, Spain's second biggest bank by market esteem after Santander, offered a trade proportion of 1 recently given BBVA share for each 4.83 Sabadell shares, a 30% premium over April 29 shutting costs.
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