ABN Amro investors in bid revolt
Published April 26th, 2007
ABN Amro shareholders have told the managers of the Dutch bank to sell the bank to the highest bidder.
This vote, at an unusually heated shareholder meeting of ABN Amro, could result in the bank’s break-up.
ABN Amro’s managers are in favour of a proposed £45bn (66bn euro; $90bn) takeover bid by British rival Barclays.
However, UK bank RBS, Spain’s Santander and Belgium’s Fortis have mooted a £49bn bid, that would see the Dutch bank’s assets split among the three.
So far the RBS-led consortium has not yet put forward a formal bid.
But whoever wins the looming bid battle, the takeover is likely to result in thousands of job cuts.
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