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Barclay's to alter bidding value for ABN AMRO
Consortium of European Banks increases ABN's value
By: Diamond World News Service
Jul 17 2007 12:00AM
Reference: 1116  


In the ongoing buy out deal of ABN AMRO – Netherlands, the consortium of European Banks, one of the bidders, has increased its cash proportion of the bid from 79% to 93%, valuing the bid price at €71.1 billion ($98 billion). The per share value of ABN now becomes €38.40 per share, making its 13.7% higher than that of competing bidder Barclays. The Consortium includes Santander, Fortis, and Royal Bank of Scotland.

On its part, Barclay’s is considering issue of "quasi equity" like convertible bonds, or employing the €12 billion cash fund reserved for LaSalle Bank, ABN’s US division.

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