Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 2, 2008 10:30:08 AM CST

Learn about Newser Points »

« Back to the grid | Next story »

Dutch Court Blocks Bank Merger

Posted May 3, 07 1:47 PM CDT in Business 

(Newser) – A Dutch court has blocked the sale of ABN Amro's LaSalle Bank, throwing Amro's proposed merger with Barclays into jeopardy. The move—which the court says is intended to protect shareholder interests—could spark a new bidding war over the Dutch bank, whose $87.5 billion proposed merger with Barclays has been slammed by shareholders as a lowball deal.

Amro can't finance its end of the deal without the LaSalle sale, and analysts say that opens the door for a lurking consortium led by the Royal Bank of Scotland to swoop in. After the ruling, "it is much more likely that Royal Bank will win the day," says one analyst. The offer could come in as early as tomorrow, Bloomberg reports.

Source Bloomberg

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Banks Go Dutch on ABN Buy

    Sep 14, 07 5:33 AM CDT
    Banks Go Dutch on ABN Buy The race to buy Dutch bank ABN Amro is in the final stage—with a consortium led by the Royal Bank of Scotland apparently on the inside track ahead of  Barclays. The consortium has already won agreement from ABN and the Dutch government, but has yet to raise the $99 billion it needs for the purchase, the Wall Street Journal reports. More »

  • Barclays Bid Gets Backing From the East

    Jul 23, 07 12:06 PM CDT
    Barclays Bid Gets Backing From the East The Chinese and Singaporean governments have invested almost $5 billion in Barclays, helping the firm float more cash for its bid for ABN. The state-run companies would invest even more if the bid succeeds, which would leave the Chinese state with a holding of 7.7% of the world's new largest bank. More »

  • Barclays Selling Stake to Fund Bank Battle

    Jul 23, 07 5:56 AM CDT
    Barclays Selling Stake to Fund Bank Battle Barclays Bank is poised to sell a significant piece of itself to fund its bitterly contested takeover battle for Dutch bank ABN Amro, the Wall Street Journal reports. Barclays is close to a deal with Singapore's government-owned investment firm Temasek Holdings and another investor. A 10% stake is worth up to $9.6 billion.  More »

  • RBS Consortium Renews Bid for ABN Amro

    May 29, 07 9:02 AM CDT
    RBS Consortium Renews Bid for ABN Amro Refusing to take no for an answer, a coalition led by Royal Bank of Scotland today submitted a renewed $95.6 billion bid for ABN Amro. The offer overshadows a competing $86 billion offer from Barclays, but legal wrangling over the sale of LaSalle Bank continues to bog down the RBS group's proposal, the Wall Street Journal reports. More »

  • ABN Turns Down RBS Spoiler Offer

    May 7, 07 8:01 AM CDT
    Dutch bank ABN Amro has rebuffed a $24 billion offer for its American nephew LaSalle, from a consortium led by the Royal Bank of Scotland. ABN says the bid was no better than a previous one from Bank of America, and that the Scots had ignored "repeated requests for clarification" on the deal's financing and other issues. More »

Barclays' John Varley, left, and Rijkman Groenink, chairman of ABN Amro, right, attend a press conference at ABN Amro's headquarters in Amsterdam, the Netherlands, Monday, April 23, 2007. Barclays PLC...   (Associated Press)
A security guard exits a LaSalle Bank branch in Chicago, Monday, April 23, 2007. Bank of America Corp. said Monday it will purchase LaSalle Bank Corp. from ABN Amro North America Holding Co. for $21 billion,...   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 1)

Tags

business • bank • Barclays • Royal Bank of Scotland • ABN AMRO • LaSalle


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Home Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »