Banco Sabadell's shareholders have unanimously approved the sale of its British unit, TSB Bank, to Banco Santander for approximately 3 billion euros. This transaction allows Sabadell to refocus its operations on the Spanish market, where it aims to provide better service to its clients. Concurrently, Sabadell's shareholders approved a special dividend of 2.5 billion euros linked to the TSB sale. The sale and dividend distribution are viewed as defensive measures against a hostile takeover bid by BBVA. Following these developments, BBVA's board, led by President Carlos Torres, is reassessing its takeover offer for Sabadell. BBVA has acknowledged to investors the possibility of withdrawing the bid due to the TSB sale and is revising its synergy estimates, although it still sees value in the proposed deal.