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ABN Amro to freeze the sales process.
http://www.reuters.com/article/ousiv/idUSL0212305120070503
AMSTERDAM (Reuters) – A Dutch court ruled on Thursday that ABN AMRO (AAH.AS: Quote, Profile, Research must freeze its $21 billion sale of U.S. unit LaSalle to Bank of America (BAC.N: Quote, Profile, Research, opening up the possibility of a rival bid for the Netherlands’ biggest bank.
The commercial court in Amsterdam said the deal should be put to shareholders, as well as any other decision to sell the entire bank or parts of the bank.
At issue was whether ABN’s sale of LaSalle can be considered a “major transaction” requiring shareholders’ approval.
Very cool, check this out, I wonder how this will affect things going foward.
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