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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
As Carlos Torres’ long pursuit of Banco Sabadell SA nears the finish line, the BBVA SA Chairman is confronting a choice that derailed his first approach five years ago: raise the bid or risk failure.
Since unveiling his €15.5 billion ($18.2 billion) takeover plan in May of last year, Torres has steadily plowed ahead despite lengthy regulatory assessments, government opposition and a last minute maneuver by Sabadell to obstruct the deal by selling its UK unit.