Fortis implies it may meet ABN Amro's Generale bid

Article Abstract:

Fortis Group is attempting to snatch Generale Bank from rival ABN Amro Bank. Fortis is currently striving to gain majority control of General Bank even if its offer is 11% less than ABN Amro's stock and cash offer worth approximately 445.5 billion Belgian francs ($12.14 billion). Fortis is offering seven of its own shares per three Generale Bank shares, a bid that values Generale Bank at around 396 billion francs. Fortis proclaims that it has received commitments for 35% of Generale Bank's stock, along with a 29% stake held by the bank's controlling shareholder, Suex Lyonnaise des Eaux..

Comment:

Fortis Group is attempting to snatch Fortis Bank from this rival bank

Asset sales & divestitures, Belgium, ABN AMRO Bank N.V. (Amsterdam, Netherlands), Fortis Group, Generale Bank

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Rabobank deal expands competition

Article Abstract:

Rabobank Nederland's proposed merger with Achmea Holding NV marks the creation of a new Benelux financial-services group, with 53,000 employees in the Netherlands alone. Rabobank and Achmea stated that they first intend to combine their asset-management and insurance operations and then complete their full consolidation within three years. The new group is set to become the biggest financial-services company with combined assets worth approximately 486 billion guilders ($237.27 billion) by the end of 1998.

Comment:

Its proposed merger w/ Rabobank Nederland marks the creation of a new Benelux financial-services group

Netherlands, Rabobank Nederland, Achmea Holding N.V.

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