Shareholders seek probe on takeover
The Dutch shareholders’ association VEB asked an Amsterdam court to order a probe into possible mismanagement at ABN Amro in the bank’s handling of a take-over battle raging over it.
By Agencies |
HAGUE: The Dutch shareholders’ association VEB on Thursday asked an Amsterdam court to order a probe into possible mismanagement at ABN Amro in the bank’s handling of a take-over battle raging over it.
Lawyers for VEB said ABN Amro had been negligent in supporting a take-over offer from British bank Barclays without properly investigating the possibilities of a rival bid from three European banks.
Barclays has issued a revised informal bid worth about e67.5 billion ($93.3 billion) while the consortium of Royal Bank of Scotland, Dutch-Belgian group Fortis and Banco Santander of Spain has formally offered e71.1 billion.
Lawyers for VEB said ABN Amro had been negligent in supporting a take-over offer from British bank Barclays without properly investigating the possibilities of a rival bid from three European banks.
Barclays has issued a revised informal bid worth about e67.5 billion ($93.3 billion) while the consortium of Royal Bank of Scotland, Dutch-Belgian group Fortis and Banco Santander of Spain has formally offered e71.1 billion.
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