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RBS Trio Set to Seal $101B ABN Amro Buy

AMSTERDAM-Barclays backs down from its bid, paving the way for ABN Amro shareholders to agree to the biggest bank takeover in history.

By Marita Thomas | Updated on October 07, 2007

AMSTERDAM-The long-running battle to buy ABN Amro Holding NV appears to have drawn to a close as Barclays Group PLC backed out of the bidding war. The exit leaves the approximately $101-billion bid by a three-member consortium led by London-based Royal Bank of Scotland PLC on the table, subject to a vote by ABN Amro shareholders.

According to published reports during the weekend, investors representing 85% of ABN Amro shares had voted to accept the deal, and the three-party consortium will announce the outcome this week. The trio also includes Belgium-based Fortis NV and Spain’s Banco Santadar Central Hispano SA. http://www.globest.com/news/892_892/gsrglobal/160086-1.html.

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