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Board of Spain's Sabadell bank rejects BBVA takeover bid
Board of Spain's Sabadell bank rejects BBVA takeover bid
Business and Economy
by  AFP

Spanish bank Sabadell on Friday said its board had rejected larger national rival BBVA's hostile takeover bid and urged shareholders to shun it as the clock ticked down on their final decision. Believing the takeover "destroys value for Banco Sabadell shareholders", the board "unanimously rejects the offer and therefore considers that the best option for shareholders... is not to accept it".