Post By Martin 0 Comments
May 2007 03

RBS to proceed conditionally

http://investing.reuters.co.uk/news/articleinvesting.aspx?type=allBreakingNews&storyID=2007-05-03T173304Z_01_WLA8273_RTRIDST_0_ABNAMRO-RBS-LASALLE-URGENT.XML

LONDON, May 3 (Reuters) – A Royal Bank of Scotland (RBS.L: Quote, Profile , Research) led group is likely to proceed with a conditional bid for ABN AMRO’s U.S. bank LaSalle by Sunday despite a Dutch court blocking the sale process of the unit, sources familiar with the matter said.

A Dutch court ruled on Thursday that ABN (AAH.AS: Quote, Profile , Research) must freeze its $21 billion sale of LaSalle to Bank of America (BAC.N: Quote, Profile , Research) as it should be voted on by shareholders.

Interesting, the RBS consortium is set to bid for LaSalle on the condition it can also buy ABN Amro, we’ll need to see what happens over the next few days. Check it out, the Reuters article explains it all.




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