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Published on FierceFinance (http://www.fiercefinance.com)

ABN Amro situation still murky

By admin
Created May 7 2007 - 8:01pm

So who will win ABN Amro? The picture is still fuzzy. The Dutch banking giant, the target of a heated battle [1] between Barclays and a group led by Royal Bank of Scotland, has said it will call a special shareholder meeting to discuss the competing bids, but has not said when. It has also said it will let shareholders decide. But there are numerous questions that have not been answered. Chief among them: What is the status of the ABN Amro deal to sell LaSalle to Bank of America? The RBS group has a competing offer out there, but that one seems to be conditional upon a deal with the RBS group. The ABN Amro board, however, has rejected the RBS group bid for the bank [2]. Bank of America is definitely playing hardball and just might sue if its deal does not go through. One issue, however, is that the deal was never approved by ABN Amro shareholders and is widely seen as a poison pill--fairly or not. 

For more:
- here's an AP update [3] 


Source URL:
http://www.fiercefinance.com/story/abn-amro-situation-still-murky/2007-05-08