Royal Bank consortium offers rival offer for ABN Amro
25 Apr 2007
A rival bid from a three-bank consortium led by the Royal Bank of Scotland, has raised a question mark over Barclays' merger into question. (See: ABN bid battle could go hostile) A group of banks led by Royal Bank of Scotland (RBS) has said it is interested in buying Dutch bank ABN Amro for €72 billion. The consortium includes Spain's Santander and Belgium's Fortis,
The proposed offer would exceed the £45-billion offer the UK-based Barclays bank had announced yesterday a deal that was agreed with the UK's Barclays. (See: Barclays in £45-billion merger deal with ABN Amro)
The proposed RBS offer comprises 70 per cent cash and 30 per cent of RBS shares.