Latest news with #BancoDeSabadell
Bloomberg
10 hours ago
- Business
- Bloomberg
British Banking Minnow TSB Is a Big Deal for Europe
Another day, another potential spanner in the works of European banking consolidation. Banco de Sabadell SA has had 'preliminary non-binding expressions of interest' for its UK arm, TSB Banking Group Plc, it said late on Monday, confirming reports in the Financial Times. This offers a convenient defense against the Spanish bank's pending €13 billion ($15 billion) takeover by BBVA SA — convenient because it's very much against Spanish rules to shop parts of yourself around while subject to a formal bid. For BBVA, a TSB offer could threaten the pricing and dynamics of its tender for Sabadell shares, expected to be launched next month. It will certainly muddy the waters for Sabadell investors. As in Italy, where an interlocking series of deals is turning into an unpickable Gordian knot, this Spanish situation risks becoming a stalemate, too.
Bloomberg
04-04-2025
- Business
- Bloomberg
Stock Movers: Deutsche Bank, Gerresheimer, Danone
On this episode of Stock Movers: - Banks is the worst-performing sector in Europe for a second day as the global equity rout continued on fears economic growth will be hit by US tariffs. The Stoxx 600 Banks Index sinks 4% as of 9:27 a.m. CET, extending weekly declines to 10%, the steepest drop since March 2023 The sector is still up 12% YTD. Deutsche Bank, Banco De Sabadell are down more than 5% - KKR has walked away from a private equity consortium discussing a takeover of Gerresheimer AG, the German maker of packaging for drugs and cosmetics, people familiar with the matter said. The buyout firm had teamed up with Warburg Pincus to pursue a deal for Gerresheimer, Bloomberg News reported in March. Warburg Pincus is still working to see if it can reach a deal, according to the people, who asked not to be identified discussing confidential information. - Danone shares rise as much as 2.7% to hit their highest level in over five years after analysts at Morgan Stanley said they now prefer the stock over Nestle, arguing the French food company is trading at an 'unwarranted' discount to its Swiss peer given its more attractive setup.
