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–Sabadell: Deal Fails Decisively — Institutional and Governance Friction Ends 17-Month Saga

BBVA-Sabadell: Deal Launches Underwater, Arbitrage Still Asymmetric

BBVA-Sabadell: Spread Too Thin, Sabadell Terms Weaken Again

BBVA-Sabadell: All-Stock, All-In — But Not a Done Deal

Event-Driven

<ul>
<li>BBVA secures 20%+ acceptance with one day left; gross spread at close is +2.9%. Market focus now on final institutional flows and threshold risk into 10 Oct deadline.</li>
<li>Most hedge funds expected to tender to avoid being caught in a non-event or downside skew if BBVA walks; second OPA would be all-cash but at the same price.</li>
<li>Long SAB / short BBVA remains tactically attractive, with asymmetry reduced but not gone. Borrow demand light but may rise as index tracking and hedge unwinds converge into result publication.</li>
</ul>


BBVA secures 20%+ acceptance with one day left; gross spread at close is +2.9%. Market focus now on final institutional flows and threshold risk into 10 Oct deadline.
Most hedge funds expected to tender to avoid being caught in a non-event or downside skew if BBVA walks; second OPA would be all-cash but at the same price.
Long SAB / short BBVA remains tactically attractive, with asymmetry reduced but not gone. Borrow demand light but may rise as index tracking and hedge unwinds converge into result publication.


BBVA-Sabadell: Final Stretch — Risk/Reward Tilting Sharply

Banco De Sabadell SA

BBVA-Sabadell: Final Stretch — Risk/Reward Tilting Sharply