ABN to express position on bidders

29th August 2007, Comments 0 comments

ABN to express position on bidders

29 August 2007

AMSTERDAM (dpa) - ABN AMRO will take a clear position concerning the takeover proposals by the two parties bidding for the Dutch bank, it was reported on Wednesday.

So far, ABN AMRO has preferred to take a neutral position.

But in the agenda published Wednesday for the extraordinary shareholders meeting due to take place on 20 September, the ABN AMRO board of directors announced it will express its opinion on both takeover plans.

Britain-based Barclays bank and a banking consortium consisting of the Royal Bank of Scotland, Fortis NV and Banco Santander have been battling to take over the Netherlands' biggest bank for several months.

In September and October the shareholders of both parties vying for ABN AMRO will vote on the takeover bid.

It is expected that the new owner of the Dutch bank will not be known until late October.

[Copyright dpa 2007]

Subject: Dutch news

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