RBS approves pursuit of ABN deal

12th August 2007, Comments 0 comments

13 August 2007, LONDON (AFP) - Shareholders in Royal Bank of Scotland approved on Friday its pursuit of Dutch lender ABN AMRO as part of a consortium of three banks bidding for the group.

13 August 2007

LONDON (AFP) - Shareholders in Royal Bank of Scotland approved on Friday its pursuit of Dutch lender ABN AMRO as part of a consortium of three banks bidding for the group.

Shareholders representing 60.7 percent of shares in the company voted with 94.54 percent in favour of RBS's bid for ABN AMRO.

The other two banks in the consortium, Santander of Spain and Belgian-Dutch group Fortis, have already won approval from their shareholders.

The consortium is competing with Barclays of Britain to buy ABN AMRO, with the winner to clinch what will be the biggest takeover in the history of banking.

Barclays has offered about EUR 67.5 billion, while the consortium has offered EUR 71.1 billion.

[Copyright AFP 2007]

Subject: Dutch news

0 Comments To This Article