Search

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 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.