Bladewatch.com

http://news.bbc.co.uk/1/low/business/6598387.stm

A consortium led by RBS has confirmed that it intends to make a takeover offer for the Dutch bank ABN Amro.

RBS and allies Fortis and Santander say their offer represents “higher value” for ABN’s shareholders compared with the recommended offer from Barclays.

Barclays is offering about £45bn in shares for the Dutch lender, but on Thursday ABN’s shareholders told the bank to sell to the highest bidder.

RBS, Belgium’s Fortis and Spain’s Santander have yet to reveal a price.

RBS called on ABN’s board to discuss its proposals as soon as possible.

It’s always interesting to see how these kind of deals develop, whether Barclays merge with ABN Amro, or the RBS consortium purchases it and splits the different business units up; there will be a significant volume of work on the business and IT side to integrate the business units, to provide as near to seemless IT service to the users whilst the systems are migrated/relocated or integrated to existing solutions will remain a challenge, but bring real costs savings in the long term.

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