ABN still supports the Barclays offer

http://www.ft.com/cms/s/805c139c-3ee3-11dc-bfcf-0000779fd2ac.html

ABN Amro on Monday indicated its continued support for a take-over bid by Barclays, even after the Dutch bank formally withdrew its recommendation for the agreed deal.

Rijkman Groenink, chief executive, said it would have “looked a bit silly” for the bank to continue recommending Barclays’ bid, which is currently worth about €34.60 a share – substantially below a €38.10-a-share break-up bid from a consortium led by Royal Bank of Scotland.

However, he said: “We continue to support the Barclays bid, but we will engage with both parties.”

The deal is set to continue and ABN Amro still seems to support the Barclays deal.

Category: News