RBS Consortium offer and response from Barclays

http://news.bbc.co.uk/2/hi/business/6699561.stm

 …Shareholders’ groups said that the sale of LaSalle was designed to prevent RBS making a higher offer for the whole of LaSalle and so was not in their interests. The 38.40-euros-per-share proposed offer from the RBS consortium is made up of 30.40 euros cash plus 0.844 new RBS shares for each ABN share. The statement from the consortium also said that its offer would lead to fewer employees losing their jobs than under Barclays’ proposals….

…The consortium said that while it would prefer to agree a deal with ABN’s management, it would be prepared to make the offer directly to shareholders if necessary. RBS chief executive Fred Goodwin said he expected the offer to be put alongside Barclays’ offer in any shareholder vote. “All of the bids should go before shareholders, and they should allow shareholders to decide in an environment of having as level a playing field as can be,” he said. RBS shares were down 1.9% in London trading by lunchtime.

Barclays shares were 0.6% higher. In a letter to staff, Barclays chief executive John Varley said, “There is nothing surprising in today’s development and once I have had the opportunity to look at it carefully I’ll write to you again.” …

Very cool, wonder when the actual decision will be made, when the shareholders can meet, discuss the two deals and move forward with a choice of which one they feel presents the best value.