SPANISH banking giant BBVA has increased its hostile takeover bid for rival Banco Sabadell by 10%, declaring this will be its final offer with no further improvements or extensions. The Bilbao-based bank announced the sweetened deal just two days before the official deadline for offer improvements, revealing it will now exchange one BBVA share for every 4.8376 Sabadell shares. However, Sabadell’s shares tumbled more than 4% at market opening on Monday, while BBVA lost nearly 2%. READ MORE: BBVA goes to Spain’s Supreme Court to fight government ‘meddling’ in Sabadell Bank takeoverThe market reaction reflects investor scepticism about the deal’s prospects. READ MORE: Sabadell Bank shareholders massively back TSB sale as fight against BBVA takeover continues in SpainFor the takeover to succeed, BBVA needs at least half of Sabadell shareholders to accept the offer.