BBVA Boosts Sabadell Takeover Bid by 10% to $20 Billion (3)

BBVA SA raised the value of its takeover bid for Banco Sabadell SA by about 10%, a last-ditch effort to get a deal over the line that’s been delayed by regulatory reviews and government opposition for more than a year.

The lender is now offering one ordinary BBVA share for every 4.8376 ordinary shares of Banco Sabadell, according to a statementon Monday. That values the bank at about €17 billion ($20 billion), a premium of around 1.6% to Sabadell’s market value at Friday’s close.

The all-share offer will also shield Sabadell investors domiciled in Spain from having to pay ...