Search

The article deals with the effect of the ruling of the Dutch Supreme Court on the selling of ABN Amro Holdings NV to Barclays PLC on other banks bidding for ABN. The companies signed a merger contract in April. However, in the same time, ABN decided to sell La Salle, which has business operations in Michigan and Illinois, to Bank of America for $21 billion.

The article reports on the lawsuit filed by the Royal Bank of Scotland Group PLC and its two partners governing the sale of ABN Amro Holding's LaSalle Bank of Chicago to Bank of America Corp. Levinus Timmerman, a Dutch advocate general, opined that shareholder vote is not required for the U.S. sale. The U.S. sale is part of a merger agreement between ABN Amro Holding and Barclays PLC.

The article asserts that the negotiations between the Royal Bank of Scotland Group PLC (RBS) and Bank of America Corp. over bidding of LaSalle Bank may be prolonged. It is reported that the decision of RBS to buy ABN Amro Holding NV, owner of LaSalle Bank, may be complicated. RBS, Fortis NV and Banco Santander Central Hispano SA will be confirming if they will make an offer for ABN Amro. The three banks have a proposed bid price of €72.27 billion.

The article reports on the efforts of Royal Bank of Scotland Group PLC to reach a pact with Bank of America Corp. over the ownership of LaSalle Bank of Chicago, a unit of ABN Amro Holding NV. Several scenarios are possible concerning the bid of Royal Bank of Scotland Group for ABN Amro Holding. Initial attempts by Royal Bank of Scotland Group to reach a settlement with Bank of America was rebuffed.

This article reports that the British Financial Services Authority has begun a review of hedge-fund trading in ABN Amro Holding NV shares before a takeover bid by a consortium of European banks. People familiar with the matter said one trade under review involves the purchase of about €100 million in ABN shares by Toscafund Asset Management LLP in April 2007. Separately, Bank of America Corp. filed suit against ABN seeking to enforce its $21-billion deal involving LaSalle Bank in the U.S.

The article reports on a delay in ABN Amro Holding NV's sale of its LaSalle bank unit to Bank of America. A Dutch court ordered the $21 billion sale to be stopped until shareholders can vote on it. A discussion of the impact the delay could have on a $72.27 billion bid for ABN which came from a consortium led by Royal Bank of Scotland Group PLC, is presented.