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.


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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.


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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.


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U.S. activist fund builds stake in UBS: paper

(Reuters) - Speculation of a possible break-up at UBS has escalated in recent months following a proposed three-way carve-up of ABN AMRO by a group led by Royal Bank of Scotland .




The Sunday Times report said Chicago-based Harris Associates had built a stake representing about 1 percent of UBS over the past three months.


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European Bank Stocks Advance, Led By ABN Amro; Saipem, Technip Decline

(Bloomberg) -- European bank stocks rose, led by ABN
Amro Holding NV after Royal Bank of Scotland Group Plc sweetened
its 71.1 billion-euro ($98.1 billion) offer for the Dutch lender.

ABN Amro jumped the most in three months. Oil-services
companies paced declines in energy shares after UBS AG cut its
recommendations on Saipem SpA and Technip SA following their
``strong performance.'' BT Group Plc, the U.K.'s largest phone
company, and drugmaker GlaxoSmithKline Plc climbed after
brokerages lifted their recommendations on the shares.


Read more at Bloomberg Stocks News

European Bank Stocks Advance, Paed by ABN Amro; Saipem, Technip Decline

(Bloomberg) -- European bank stocks rose, led by ABN
Amro Holding NV after Royal Bank of Scotland Group Plc sweetened
its 71.1 billion-euro ($98.1 billion) offer for the Dutch lender.

ABN Amro jumped the most in three months. Oil-services
companies paced declines in energy shares after UBS AG cut its
recommendations on Saipem SpA and Technip SA following their
``strong performance.'' BT Group Plc, the U.K.'s largest phone
company, and drugmaker GlaxoSmithKline Plc advanced after
brokerages lifted their recommendations on the shares.


Read more at Bloomberg Stocks News

U.K.'s FTSE 100 Is Little Changed; Barclays, Glaxo, BT Climb, Lonmin Drops

(Bloomberg) -- U.K. stocks including Barclays Plc
rose after Royal Bank of Scotland Plc sweetened its 71.1 billion
euro ($98.1 billion) offer for ABN Amro Holding NV.

Lonmin Plc limited gains after the mining company said it
will delay the sale of as much as 90,000 ounces of platinum.
Wolseley Plc slid after the company said pretax profit fell.


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European Stocks Advance, Led by ABN Amro, Barclays, BT Group, Glaxo

(Bloomberg) -- European stocks rose for a third day,
led by ABN Amro Holding NV after Royal Bank of Scotland Group Plc
sweetened its 71.1 billion-euro ($98.1 billion) offer for the
Dutch lender, seeking to trump Barclays Plc.

ABN Amro jumped the most in three months. Barclays also
climbed. BT Group Plc, the U.K.'s largest phone company, and
drugmaker GlaxoSmithKline Plc rose after brokerages lifted their
recommendations on the shares.


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Goodwin Bid Spurns Shareholders as Royal Bank Trails Rivals in U.K. Market

(Bloomberg) -- Royal Bank of Scotland Group Plc Chief
Executive Officer Fred Goodwin's pursuit of the world's biggest
banking takeover has already cost shareholders $6.6 billion of
market value and the fight is far from over.

Goodwin, who has overseen more than $60 billion of
acquisitions since 2000, has failed to convince investors that
the proposed $97 billion bid for ABN Amro Holding NV, the largest
Dutch bank, will increase profit fast enough to bolster Royal
Bank's underperforming stock. Shares of Royal Bank dropped 5.2
percent since the offer for ABN Amro was unveiled almost three
months ago and Goodwin estimated the deal would result in $5.2
billion of merger expenses, reducing profit for two years.


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Thomson gets 4.8 bln pounds loan for Reuters

(Reuters) - The loan is structured as a 364-day bridge financing and has been arranged by Barclays Capital, Royal Bank of Scotland and Toronto Dominion Bank. J.P. Morgan, Bank of America and Citigroup also participated in the financing.



Pricing is 20 basis points over Libor, with a 5 basis points facility fee.


Read more at Reuters.com Mergers News

RLPC-Thomson gets 4.8 bln pounds loan for Reuters purchase

(Reuters) - The loan is structured as a 364-day bridge financing and has been arranged by Barclays Capital, Royal Bank of Scotland and Toronto Dominion Bank. J.P. Morgan, Bank of America and Citigroup also participated in the financing.



Pricing is 20 basis points over Libor, with a 5 basis points facility fee.


Read more at Reuters.com Bonds News