ABN Amro bid revised
by Kay Murchie
The consortium led by Royal Bank of Scotland (RBS) has revised its £48 billion offer for the Dutch bank, ABN Amro. RBS and its bid partners, Fortis of Belgium and Santander of Spain, have raised the cash element of their £48 billion offer from 79% to 93%, in a renewed effort to stop Barclay’s agreed takeover of ABN.
The news comes only a few days after the Dutch Supreme Court ruled that the £10.5 billion sale of ABN’s US banking division LaSalle, to Bank of America, could proceed. RBS has been eager to have power of LaSalle as part of the acquisition, while Barclays has been in agreement with its disposal.
Experts think that ABN’s board will withdraw its support for Barclays, which has made an all-share bid, valuing ABN at £43 billion. Many believe that whoever wins the battle could be overpaying for ABN.
Discuss this in the Finance Markets forums
Story link: ABN Amro bid revised
Related financial stories to: ABN Amro bid revised:
- RBS sees off Barclays for ABN Amro bid
- Barclays, Amro agree on deal
- Barclays bid for ABN Amro is rejected
- Lloyds Banking Group to axe 625, ABN Amro to axe 6,500
- FTSE 100 continues to gain as predictions revised up
Next: Government must prevent future flooding »
Visited 1018 times, 1 so far today
No Comments »
No comments yet.
RSS feed for comments on this post.
