ABN Pushes for RBS to Settle LaSalle Dispute: Report
ABN Amro urged a Royal Bank of Scotland-led consortium and Bank of America to settle their dispute over the acquisition of ABN's U.S. unit, LaSalle, as the subsidiary's future remains a sticking point in the takeover battle for the Dutch bank, the Financial Times reported Friday.
Both the RBS consortium and BofA are keen to buy LaSalle assets and held discussions last week about potentially splitting the company. The talks failed, but ABN Amro is keen to resume them and avoid an extended legal fight, the paper reported.
The potential deal would involve BofA purchasing LaSalle for $21 billion and then selling some of its assets to RBS if the consortium's $94.6 billion offer for ABN Amro succeeded, according to people familiar with the talks, the FT said.
BofA would then drop its lawsuit claiming billions of dollars in damages from ABN Amro, the London based paper added.