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: AGM Approvals Lock in Value, Raise Bar for Deal Success

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

BBVA-Sabadell: Deal Launches Underwater, Arbitrage Still Asymmetric

TSB: Divestment as a Defensive Lever in Sabadell’s BBVA Saga

BBVA/Sabadell: Trading Above Terms After Government Imposes Integration Freeze

BBVA/Sabadell: Potential BBVA Bump, TSB Dividend Catalyst, and Positioning Via Equity and Options

Event-Driven

<ul>
<li>Sabadell's TSB sale unlocks €3.4B in value and supports a €0.50/share special dividend, reducing appeal of BBVA’s current hostile bid.</li>
<li>BBVA maintains its offer despite regulatory constraints and limited synergy visibility for 3–5 years.</li>
<li>Options activity and share price suggest market expects either a bid bump or re-rating, with dividend yield softening downside.</li>
</ul>


Sabadell's TSB sale unlocks €3.4B in value and supports a €0.50/share special dividend, reducing appeal of BBVA’s current hostile bid.
BBVA maintains its offer despite regulatory constraints and limited synergy visibility for 3–5 years.
Options activity and share price suggest market expects either a bid bump or re-rating, with dividend yield softening downside.


BBVA/Sabadell Update: TSB Sale Shifts Dynamics, Adds Dividend Optionality

Banco De Sabadell SA

BBVA/Sabadell Update: TSB Sale Shifts Dynamics, Adds Dividend Optionality