Showing posts with label Fortis. Show all posts
Showing posts with label Fortis. Show all posts

Monday, 06 August 2007

UPDATE 1-Fortis seeks shareholder approval for ABN buy

(Reuters) - BRUSSELS, Aug 6 - Belgian-Dutch financial services
group Fortis sought shareholder approval on Monday for
its part of a three-bank bid to buy ABN AMRO , a crucial
vote for the biggest ever bank takeover.




Fortis , Royal Bank of Scotland and Spain's
Santander have offered 71 billion euros
for the Netherlands' largest bank in a bidding war that has
featured legal and stakeholder battles.


Read more at Reuters.com Mergers News

Friday, 03 August 2007

Fortis seen clearing shareholder hurdle over ABN

(Reuters) - If it does not garner enough support it could spell the end not only to Fortis's ambitions of expanding in the Benelux but also the joint 71 billion euro bid of its consortium partners Royal Bank of Scotland and Spain's Santander .




Fortis will ask shareholders, who have seen their stock drop by almost 18 percent since it confirmed its approach for ABN in April, to back the planned takeover in general and its financing through Europe's second largest rights issue.


Read more at Reuters.com Mergers News

Monday, 30 July 2007

ABN withdraws backing for Barclays bid, profit dips

(Reuters) - The Netherlands' biggest bank, the target of a 66 billion-euro offer from Barclays and a 71 billion-euro bid from RBS, Belgium's Fortis and Spain's Santander , also reported a 7.1 percent decline in its second-quarter net profit on Monday.




ABN originally backed Barclays when announcing their merger deal in April but withdrew its recommendation even after Barclays sweetened its offer last week to include more cash.


Read more at Reuters.com Mergers News

Sunday, 29 July 2007

ABN withdraws backing for Barclays bid

(Reuters) - ABN said it was currently not in the position to recommend the offers from Barclays or the RBS-led consortium, which also includes Belgian-Dutch Fortis and Spain's Santander.




ABN had a net profit of 1.13 billion euros in the second quarter, compared with 1.216 billion euros a year earlier and the 1 billion euros average forecast in a Reuters survey of five analysts.


Read more at Reuters.com Market News

Sunday, 22 July 2007

Barclays seeks China, Singapore state funds in ABN buy -BBC

(Reuters) - Barclays said last week that it may add cash to sweeten its
agreed 65 billion euro offer for ABN as it
battles against a higher bid from a rival consortium led by
Royal Bank of Scotland and that also includes
Belgian-Dutch group Fortis and Spain's Santander
.




The BBC that said the two Asian governments would pay
around 740 pence for each Barclays share, 3.7 percent above
Friday's closing price of 713.5 pence.


Read more at Reuters.com Mergers News

Thursday, 05 July 2007

UPDATE 1-RBS-led consortium gets ABN offer extension

(Reuters) - British bank Barclays, which was also granted an extension
by Dutch market regulator AFM to file its formal offer until
July 23, is seeking to buy ABN for 62.8 billion euros .




RBS and its partners -- Spain's Santander and
Belgian-Dutch Fortis -- have offered to buy Dutch rival
ABN for 71.2 billion euros.


Read more at Reuters.com Mergers News

Tuesday, 03 July 2007

RBS group says doesn't know many of key ABN facts

(Reuters) - A U.S. regulatory filing by Spain's Santander for the first time showed details of the shareholder agreement it has with RBS and Belgian-Dutch Fortis to buy ABN, which was signed on May 28.



The agreement said the trio acknowledge "they do not know many of the key facts relating to the ABN AMRO Group, including the precise identity and ownership of the acquired businesses."


Read more at Reuters.com Government Filings News