Post By Martin 0 Comments
May 2007 31

RBS to talk with Bank of America?

http://investing.reuters.co.uk/news/articleinvesting.aspx?type=allBreakingNews&storyID=2007-05-31T115958Z_01_L31374593_RTRIDST_0_ABNAMRO-TAKEOVER-LASALLE.XML

LONDON, May 31 (Reuters) – Royal Bank of Scotland (RBS.L: Quote, Profile , Research) is expected to restart talks with Bank of America (BAC.N: Quote, Profile , Research) to divide up LaSalle Bank and clear a path towards a takeover of ABN AMRO, sources familiar with the matter said on Thursday. RBS and Bank of America (BofA) both want to buy ABN’s (AAH.AS: Quote, Profile , Research) U.S. arm LaSalle and the issue has become the key sticking point in a takeover battle for the Dutch bank between a consortium led by RBS and rival suitor Barclays (BARC.L: Quote, Profile , Research).

ABN struck a deal to sell LaSalle to BofA for $21 billion when it agreed to be taken over by Barclays, but the sale is the subject of a legal battle. A Dutch court is due to rule in July.

Very interesting, the LaSalle part of the transaction seems to be an emotional component, the quicker we can resolve it, the better for all involved and it might possibly make the RBS deal seem more appealing?

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