Bladewatch.com

http://observer.guardian.co.uk/business/story/0,,2174725,00.html

The Royal Bank of Scotland-led consortium is preparing to take control of Dutch bank ABN Amro, following last week’s regulatory clearance for its €70bn (£49bn) bid and an enthusiastic response to the €13bn rights issue from Belgian group Fortis, which had been seen as the weak link in the chain.
Rival Barclays has privately accepted that its €60bn bid is doomed to fail although it is unlikely to throw in the towel before the 4 October closing date, which means it should be able to pick up the €200m termination fee agreed when the merger was announced back in April.

Very cool, it will be interesting to see how the deal progresses, the article above suggests that the RBS Consortium is making headway, however the article below highlights that until everything is signed these kind of deals can change on a daily basis.

http://www.hemscott.com/news/latest-news/item.do?newsId=50702088996765

AMSTERDAM (Thomson Financial) – ABN Amro Holdings NV is ‘furious’ over Fortis NV’s plan to sell 10 pct of ABN Amro after a successful takeover of the Dutch bank by the RBS consortium, Dutch daily Het Financieele Dagblad reported this weekend.

Fortis last Friday announced that it plans to sell the Hollandsche Bank Unie unit, 13 advisory offices and two corporate client units.

The selloff could cause ‘big problems’ for ABN Amro’s operations, anonymous ABN Amro staff told the newspaper.

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