05:37 AM EDT, 09/22/2025 (MT Newswires) -- Banco Bilbao Vizcaya Argentaria ( BBVA ) said Monday that it has raised its offer to acquire Banco Sabadell by 10% to 17 billion euros ($20 billion).

Under the new bid, BBVA will offer one share for every 4.8376 Banco Sabadell shares, valuing Banco Sabadell shares at 3.39 euros apiece.

The new offer would give Banco Sabadell shareholders a 15.3% stake in BBVA, the company said.

BBVA's board has waived the possibility of further improving the bid and extending the acceptance period, it said.

Earlier this month, Banco Sabadell's board recommended that its shareholders reject BBVA's hostile previous takeover bid as it "significantly undervalues" the company.