09:20 AM EDT, 10/10/2025 (MT Newswires) -- BlackRock's ( BLK ) actively managed funds are expected to accept Spain's BBVA's (BBVA) takeover offer for its competitor Banco Sabadell and tender their shares as the offer period nears its close, Bloomberg reported Friday, quoting people familiar with the matter.

Blackrock ( BLK ), cumulatively, is the single largest shareholder in Spanish financial services major Banco Sabadell with a 7.4% stake, but the stake held by the actively managed funds amounts to roughly 0.5% in Sabadell, the report added.

The remaining stake is held by passive funds, which have to minimize deviation from the benchmarks they track, limiting their room to act when the outcome of a deal is uncertain, the report said.

Shareholders have until the end of Friday to accept the offer of one BBVA share for every 4.8376 Sabadell shares, with the target valued at 16.7 billion euros ($19.3 billion) as of Thursday, slightly higher than Sabadell's market value of 16.3 billion euros, the report said.

Zurich Insurance, which is the second largest shareholder in Banco Sabadell, is not interested to tender its shares in this offer, while Mexican billionaire David Martinez, the third largest investor, plans to tender his shares, the report added.

The final outcome of this transaction will only be announced by market regulator CNMV on Oct. 17, Bloomberg noted.

BBVA will consider the offer successful if it acquires more than 50% of the shares, the report said.

If shareholders tender between 30% and 50%, it could either walk away or launch a second offer, the price of which will be determined by the regulator, the report said.

While BlackRock ( BLK ), Banco Sabadell, BBVA, and Zurich Insurance did not immediately reply to MT Newswires' request for comment, David Martinez could not be reached for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)