MADRID (Reuters) - The boards of Sabadell (MC:SABE) and TSB (MC:TSB) will meet on Thursday, with the Spanish bank set to formalise its takeover offer for its British peer, a source familiar with the matter said on Tuesday.
"The Sabadell board meeting is expected to formally approve its offer along the terms already disclosed," the source said, referring to the $2.6 billion acquisition approach Sabadell made to TSB last week.
Sabadell and TSB declined to comment. Lloyds (LONDON:LLOY), which owns 50 percent of TSB, has already said it was minded to accept the offer.