ABN Amro said on Wednesday it would hold discussions with Barclays on a new bid proposal unveiled this week by the consortium that is seeking to dislodge Barclays as ABN's preferred merger partner.
Barclays is planning to sweeten its offer for ABN Amro after a consortium of rivals led by Royal Bank of Scotland revised its bid for the Dutch bank, the Financial Times said on Tuesday.
Dutch bank ABN Amro can proceed with its sale of U.S. unit LaSalle, the Dutch Supreme Court said, boosting the prospect that Barclays will succeed in its near $90 billion takeover bid for ABN.
NYSE Euronext has joined Dutch and British financial authorities in examining trading patterns in ABN Amro's shares and American depository receipts in the period before the multibillion euro (dollar) bidding war over ABN became public, the bank said Tuesday.
The Dutch Supreme Court will issue its ruling on ABN Amro''s suspended sale of U.S. subsidiary LaSalle on Friday, July 13, at 10 am Amsterdam time, the court said on Tuesday.
European stocks are expected to have positive momentum next week as large-cap companies continue to perform on the back of strong global revenue streams.
Progress made by Britain's Barclays in its offer for ABN Amro demonstrates its ability to offer the Dutch bank's shareholders "certainty and deliverability," Chief Executive John Varley said on Wednesday.
Barclays, which is competing with Royal Bank of Scotland to buy ABN Amro Holding in the largest takeover fight in the financial industry's history, said Monday it received approval from Dutch regulators to delay its proposed takeover.
A group led by Irish financier Derek Quinlan has bought the 42-storey tower in London's Canary Wharf financial district owned by Royal Bank of Scotland and used by Citigroup as its European headquarters, Quinlan said on Monday.
British bank Barclays's hopes of taking over Dutch rival ABN Amro won a boost on Tuesday when a court adviser said ABN could sell its U.S. arm without a shareholder vote.
ABN Amro does not need shareholder approval to sell its U.S. arm, a top Dutch government lawyer said Tuesday in an advisory opinion that increases the chances that the bank will ultimately be bought by Barclays.
Paris The Thought: It all starts anew this week. With Ms. Hilton leaving jail, email me with suggestions on how she might effectively rebrand herself. Seeking big money from networks has backfired--especially since she doesn't actually need money. Perhaps she should have said the dough would be donated to programs that help inmates. Yes, it's easy to crack wise (and feel free to!), but, seriously, what should she do now? There's a CNBC coffee mug in it for the most thoughtful reply.
British bank Barclays on Friday said it had some exposure to funds that have lost money from investing in sub-prime mortgage assets in the United States, but that any loss in relation to the exposure would not be material.
Barclays Bank has about $300 million of the riskiest assets within two troubled hedge funds at Bear Stearns that have other banks either freezing assets in the funds or unwinding their positions in order to cut potential losses, CNBC's Charlie Gasparino reported.
Dutch banking and insurance company ING Group is buying Turkey's Oyak Bank for $2.67 billion, joining a rush of overseas financial groups buying into the fast-growing Turkish market.
Barclays Bank and Housing Development Finance Corporation said Monday they agreed to sell their stakes in Intelenet Global Services of India in a management buyout.
Bank of America has shelved plans to take ABN Amro to court, preferring to wait until the Dutch Supreme Court rules on the Dutch bank's sale of its U.S. unit, a Bank of America spokesman said on Friday.
Three months of takeover turmoil surrounding ABN Amro are taking a toll on the Dutch bank as employees become increasingly frustrated and rivals try to lure away talent.
Barclays has not ruled out adding cash to the terms its ABN Amro offer should it need to boost its bid to fight off a rival offer from a consortium of banks led by Royal Bank of Scotland, a source familiar with the matter said on Wednesday.
The Bush administration rejected a Securities and Exchange Commission recommendation in a key Supreme Court case and did not support shareholders suing Wall Street banks for damages over Enron's collapse.