RBS group lines up financing: stock, assets will be sold to help fund bid for ABN; Merrill gets leading role

Article Abstract:

A bank consortium led by Royal Bank of Scotland PLC has obtained the funding sources needed to finance its $98.66 bil bid for ABN AMRO Holding N.V. The consortium aims to top the offer ABN has accepted from Barclays PLC, and could be the largest-ever bank acquisition. The acquisition's progress is awaiting a ruling by the Dutch Enterprise Chamber regarding a related sale of ABN's LaSalle bank to Bank of America Corp. for $21 bil.

Security brokers and dealers, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Securities industry, Royal Bank of Scotland PLC, Merrill Lynch & Company Inc.

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Battle for ABN hits legal snag; what's next? LaSalle sale is halted, sparking 6-bank scrum, BofA to defend its deal

Article Abstract:

An Amsterdam court has blocked the $21 bil sale of ABN AMRO Holding N.V.'s U.S. unit, LaSalle, to Bank of America Corp. until ABN shareholders can vote on it. ABN had agreed with BofA to the sale to advance its acquisition by UK bank Barclays PLC. The Amsterdam ruling may give an advantage to a consortium of banks also bidding for both ABN and LaSalle.

Legal issues & crime, Government regulation (cont), Government regulation, Legal/Government Regulation, Laws, regulations and rules

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