Barclays to bid 80 bln eur for ABN Amro - report |
|
|
|
Published
:
Mon, 23 Apr 2007 02:13
|
AMSTERDAM (XFN-ASIA) - Barclays PLC is putting the finishing touches on an 80-bln-eur takeover bid for ABN Amro Holdings NV, Dutch NOS public television reported yesterday.Citing sources close to the talks, NOS news said Barclays CEO John Varley was expected to come to the Netherlands to close the deal. Details should be announced Monday morning, it said.The offer NOS is reporting far exceeds the earlier figures reported in the British Sunday papers for the deal.The papers there said Barclays would bid around 69 bln eur for ABN Amro, which works out to over 36 eur per share.On Friday, ABN Amro shares closed at 36.29 eur in Amsterdam, giving the bank a market value of 69.30 bln eur. In London, Barclays closed at 750 pence, making it worth 49.05 bln stg.ABN Amro management has been under pressure from shareholder TCI, a hedge fund, to discuss takeover terms with the other groups interested in buying the lender.The Dutch bank is set to meet Monday with the Royal Bank of Scotland, Spain's Banco Santander and Belgian-Dutch group Fortis regarding a possible separate offer.It is thought that the three banks, which would be able to cut more costs than Barclays, would divide up ABN assets between them.bcp-sb/ar/zr
|
|
|
|
Print this Story
Citigroup's Prince has no comment on reported advisory role in ABN Amro takeover 