Unwanted suitor raises the stakes in fight for ABN: RBS-led group makes $98.58 bil proposal; holders apply pressure
Article Abstract:
A consortium headed by Royal Bank of Scotland PLC has presented an unwelcome bid of $98.58 bil to purchase Netherlands bank ABN AMRO Holding N.V., despite ABN's agreement with Barclays PLC to be bought for $88.35 bil in stock. But for the consortium's bid to be successful, it would have to also break up ABN's side deal to sell to Bank of America Corp. its US-based LaSalle Bank for $21 bil cash.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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ABN girds for shareholder battle
Article Abstract:
ABN AMRO Holding N.V. has rejected a higher bid from a consortium of banks in favor of an offer from Barclays PLC. ABN must now convince shareholders to accept the $88.75 bil offered by Barclays rather than the $98.27 bil bid from the consortium led by Royal Bank of Scotland Group PLC. Factors influencing the decisions are discussed.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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ABN boards neutral on 2 bids
Article Abstract:
The management and supervisory boards of ABN AMRO Holding N.V. have declined to make a recommendation regarding the two entities vying for the ownership of the Dutch bank. The UK's Barclays PLC and a European bank consortium led by Royal Bank of Scotland PLC will be given a level field for the consideration of their competing offers.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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