ABN AMRO Holding N.V. (ABN) Being Bid On
According to a report by the London Times, Royal Bank of Scotland could make a bid for Dutch bank ABN Amro (ABN 43.67), pitting it against Barclays (BCS) of the United Kingdom and several other potential bidders, such as Citigroup (C) and HSBC (HBC).
Shares in ABN traded higher on the news, gaining about 2% in early-market trading. The stock has climbed about 36% so far this year, and is up more than 20% since late March, when ABN found itself on the takeover hot seat.
Earlier in March, ABN Amro announced that it is in exclusive talks with Barclays in a deal that would value the company at about $80 billion - potentially the largest banking deal ever. However, those talks are not guaranteed to result in a deal, and several banks, including RBS, could spoil Barclays' attempt to take over the bank.
The Times reported that Goldman Sachs (GS) and Merrill Lynch (MER), which have previously been key advisors to RBS, are not tied to any other potential bidder. Goldman Sachs reportedly resigned from its role as an advisor to Dutch rival ING Group (ING), which had also been highlighted as a potential bidder. Both Goldman and Merrill were key advisors in RBS's hostile takeover of NatWest in 2000, raising speculation that the two banks could be helping RBS prepare an offer.
--Richard Jahnke, Briefing.com
Shares in ABN traded higher on the news, gaining about 2% in early-market trading. The stock has climbed about 36% so far this year, and is up more than 20% since late March, when ABN found itself on the takeover hot seat.
Earlier in March, ABN Amro announced that it is in exclusive talks with Barclays in a deal that would value the company at about $80 billion - potentially the largest banking deal ever. However, those talks are not guaranteed to result in a deal, and several banks, including RBS, could spoil Barclays' attempt to take over the bank.
The Times reported that Goldman Sachs (GS) and Merrill Lynch (MER), which have previously been key advisors to RBS, are not tied to any other potential bidder. Goldman Sachs reportedly resigned from its role as an advisor to Dutch rival ING Group (ING), which had also been highlighted as a potential bidder. Both Goldman and Merrill were key advisors in RBS's hostile takeover of NatWest in 2000, raising speculation that the two banks could be helping RBS prepare an offer.
--Richard Jahnke, Briefing.com
Labels: ABN, ABN AMRO Holding N.V., Barclays plc, BCS
posted by Stock Administrator @ 12:45 PM
0 Comments:
Post a Comment
<< Home