ABN Takeover Battle Enters Final Stages |
| New York Times - Sep 14, 2007 |
Barclays shareholders approved the company’s 61 billion euro ($84.7 billion) bid for Dutch bank ABN Amro on Friday, but the move may have been largely symbolic. Many large investors were expecting the takeover battle for ABN, which is moving into the home stretch, to be won by a rival bidding group, including Royal Bank of Scotland and Fortis, that plans to carve ABN into pieces.
The outcome could affect more than just ABN: The Economist suggested that if the rival consortium succeeds, it could embolden other groups to target big firms for break-ups.
The Economist didn’t name names, but others have speculated about HSBC, Europe’s largest lender, as a potential break-up candidate. An activist shareholder, Knight Vinke Asset Management, recently urged HSBC to hold a strategic review of its business.
Read Full Article from New York Times
- Posted: 2007-09-14 10:27:26
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