European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

BBVA’s Bid for Sabadell: A Tough Road Ahead

Sabadell’s Dividend Strategy and the BBVA Takeover Bid

BBVA/Sabadell: Implications of CNMC Decision, How Much Should BBVA Raise?

BBVA/Sabadell: Update on Conditions, Positive Gross Spread

BBVA/Sabadell: Deal Uncertainty Grows After Sabadell's Results

BBVA/Sabadell: Adjustment of Exchange Equation

Event-Driven

<ul>
<li>The CNMC extended the BBVA-Sabadell merger review to Phase 2, adding three months to assess potential impacts and allow further stakeholder input.</li>
<li>Governmental oversight may influence or block the merger based on broader public interests, with new conditions potentially altering the acquisition terms.</li>
<li>Banco Sabadell’s robust Q3 results and excess capital position improve shareholder returns. BBVA’s offer would need an improved exchange ratio or higher cash payment to increase the deal success probability.</li>
</ul>


The CNMC extended the BBVA-Sabadell merger review to Phase 2, adding three months to assess potential impacts and allow further stakeholder input.
Governmental oversight may influence or block the merger based on broader public interests, with new conditions potentially altering the acquisition terms.
Banco Sabadell’s robust Q3 results and excess capital position improve shareholder returns. BBVA’s offer would need an improved exchange ratio or higher cash payment to increase the deal success probability.


Banco De Sabadell SA

BBVA/Sabadell: Onto Phase 2