Round Up: Bank Battle Hots Up

Daily Post › May 08, 2007

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Summary

THE battle to take control of ABN Amro has intensified after the Dutch bank rejected a pounds i2.3bn bid proposal for its American banking business LaSalle from a consortium led by Royal Bank of Scotland.

ABN snubbed the offer from RBS and its partners, Belgo-Dutch group Fortis and Spain's Santander, saying that it did not constitute a "superior offer" to Bank of America's pounds io.5bn deal for the bank. This is partly as the offer is conditional on a deal to buy the whole group at an indicative price of pounds 49bn. However, ABN said it would put the offer to shareholders at a forthcoming meeting.

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Round Up: Bank Battle Hots Up

RBS said it...

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