Monday, August 6, 2007

Fortis wins initial approval for ABN purchase

(Reuters) - Fortis, Royal Bank of Scotland and Spain's Santander have offered 71 billion euros , mostly in cash, for the Netherlands' largest bank in a bidding war that has featured legal and stakeholder battles.




Approval by Fortis shareholders of its proposed purchase of ABN AMRO's Dutch operations and of a 13 billion euro rights issue needed to finance its part of the deal would give the RBS-led consortium a boost at a time when the rival Barclays bid is suffering from the decline of its share price.


Read more at Reuters.com Business News

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