A trio of banks led by Royal Bank of Scotland said it would rebid $97.8 billion for ABN Amro Holding. Analysts say the proposed bid, which is mostly cash and would be worth at least 10 percent more than an all-share rival bid by Barclays, could end Barclays' chances of winning ABN. The RBS group offer is almost unchanged from an earlier proposed bid even though ABN Amro's sale of LaSalle Bank Corp. to Bank of America Corp. is now certain. That sale was widely seen as a poison pill for RBS.
July 17, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A trio of banks led by Royal Bank of Scotland PLC said Monday it would rebid $97.8 billion for ABN Amro Holding NV, as the group went on the offensive in the largest takeover battle in the history of the financial industry.
The proposed bid of $52.87 per share, mostly in cash, would be worth at least 10 percent more than an all-share rival bid by Barclays PLC, RBS and its partners said.
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