Post By Martin 0 Comments
September 2007 17

ABN deal continues – but which offer is best?

http://www.iht.com/articles/2007/09/16/business/abn.php

VIENNA: ABN AMRO’s board said Sunday it would not recommend either of the two takeover offers it received because both had their shortcomings, leaving the outcome of the world’s largest takeover battle fully in shareholders’ hands.

ABN AMRO, the largest Dutch bank, reiterated that while the bid from a group led by Royal Bank of Scotland was financially superior to a rival offer from Barclays, it bore “business and operational risks” because it included a split-up of the company on a scale that had not been attempted before. The Barclays bid offers the “strategic benefits” of keeping the company intact and combining it with the British rival but is financially less attractive, ABN AMRO said.

We’ll need to see how the ABN Amro deal develops, in the meantime, the article above is discussing the board not recommending either offer.

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