Post By Martin 0 Comments
May 2007 03

ABN Amro court ruling at 2pm GMT?

http://today.reuters.com/news/articleinvesting.aspx?view=CN&WTmodLOC=C3-News-3&symbol=AAH.AS&storyID=2007-05-03T100310Z_01_L03631449_RTRIDST_0_ABN-TAKEOVER-DATES-FACTBOX.XML&type=qcna

May 3 (Reuters) – A Dutch court is due to decide on Thursday whether to uphold ABN AMRO’s (AAH.AS: Quote, Profile , Research) sale of U.S. unit LaSalle to Bank of America (BAC.N: Quote, Profile , Research), potentially throwing into question ABN’s $88 billion agreed takeover by Britain’s Barclays Plc (BARC.L: Quote, Profile , Research).

A ruling against the U.S. deal could make it easier for a rival group of suitors led by Royal Bank of Scotland (RBS.L: Quote, Profile , Research) — for whom LaSalle is a key asset — to table a bid for the ABN group. But it could also trigger legal action from BoA, delaying any takeover outcome.

The article mentions that the court must rule on the issue at 2pm GMT, so I shall wait and see what happens. Check out this reuters article, its very detailed and very informative.

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