Barclays may bid for ABN
Published April 22nd, 2007
Barclays is widely expected to table a 36 euros ($49; £24) a share bid for the Dutch bank ABN Amro on Monday.
The bank had not previously been expected to pay more than 35 euros per share, but is reported to have found additional cost savings and revenues.
If it is successful in the takeover it will auction off ABN’s US operations, according to the Sunday Telegraph.
Meanwhile, Royal Bank of Scotland is reported to have abandoned its plan to bid for ABN as part of a consortium.
The Sunday Times says that the combined bid by RBS, Fortis and Santander has been shelved because it is too complicated.
RBS chief executive Fred Goodwin is understood to be meeting ABN’s management on Monday and will negotiate terms by himself, backed by financing from Fortis and Santander.
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