Bladewatch.com

http://business.guardian.co.uk/story/0,,2182895,00.html

Barclays is expected to admit defeat today in its six-month battle for Dutch bank ABN Amro. The largest-ever European cross-border banking takeover will still go ahead, but with a consortium led by Royal Bank of Scotland as the victor.

Tomorrow the Dutch bank’s shareholders are expected to vote in favour of the £48bn RBS cash bid after dispensing with Barclays’ largely share-based offer. The extra £7bn on the table from RBS -and its partners Santander of Spain and Fortis, the Dutch/Belgian bank – appears to have won investors over.

We’ll see, these kind of things are often debatable up until the last minute, and as with anything, not completing one deal might be a good thing for either group for a number of reasons. We’ll see which group wins the vote from the shareholders shortly, which should bring some closure to the shareholders, employees and customers of ABN Amro not to mention many opportunities.

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