that could value the state-controlled lender at around 4 billion euros , a source with direct knowledge of the merger talks said on Monday.
The source, and another with knowledge of the ongoing talks, said the terms of the merger could be announced as soon as this week, but were still not closed. A premium range of between 15% and 22%, and the closing date for the average on Sept. 3, the day before the news of the deal emerged, would value Bankia at between 1.21-1.28 euros per share.
The deal is expected to lead to hefty job losses and kick off a new wave of industry consolidation in Spain and Europe.
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