LaSalle in middle of takeover battle
LaSalle isn't exactly a household name, but it has emerged as the great prize in the near $100 billion battle for ABN Amro. Two big banks, the Royal Bank of Scotland-led group and Bank of America, which had a deal to buy the bank as part of the Barclays deal, have made the Chicago bank the focus. Chicago is a tough market to break into, LaSalle amounts to an instant presence. Its 135 branches make it a key player with a brand name. Bank of America argues that it has a deal in place. But that could be held up in court. ABN Amro shareholders have also voiced uncertainty about the entire Barclays deal. If Bank of America doesn't get it, it will be a missed opportunity. Then again, the bank would dovetail nicely with RBS's Midwest operations.
For more:
- here's a New York Times article




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