The Ministry of Finance of the Netherlands has allowed Barclays to get ABN Amrothe British bank Barclays has obtained the permit of the Netherlands authorities to acquisition ABN Amro. In the statement of regulating body of the Ministry of Finance of the Netherlands it is said that department “ does not object “ against the possible transaction which is estimated for today in 64 mlrd euro.
as informs Reuters, representatives of the Netherlands Ministry of Finance have informed that decision-making under the offer of a consortium under the direction of other British bank Royal Bank of Scotland (RBS) can occupy more time as that has addressed with the demand later Barclays. The definitive statement of Ministry of Finance RBS can expect in the middle of September of this year
Meanwhile in the end of July of this year ABN AMRO has withdrawn recommendation Barclays, having taken of a neutral position in dispute British Barclays and a consortium under control of RBS. However, despite the sounded decision of the Netherlands bank, heads Barclays believe that their offer anyway remains more attractive to shareholders ABN AMRO in long-term prospect.
we will remind, on July, 23rd of this year Barclays has raised the offer on acquisition of Netherlands bank ABN Amro. Barclays has suggested to pay 13,15 euros for each action ABN Amro cash and 2,13 usual actions (accordingly - 24,8 mlrd euro cash and 42,7 mlrd euro in actions).
Thus, one action of the Netherlands bank has been estimated in 35,73 euros, proceeding from cost of security Barclays following the results of the auctions on July, 20th. The transaction total amount can make 64 mlrd euro, thus a share of payment by cash makes about 38 %.
the offer Sum on purchase ABN Amro by a consortium led by RBS is estimated in 71 mlrd euro, thus a share of payment by cash will make 93 %. The offer of British bank Barclays on purchase of securities Netherlands ABN Amro will operate till October, 4th of this year Shareholders ABN Amro have possibility to sell share holdings belonging to them during the period from August, 7th till October, 4th 2007ã.
Term of the offer of a consortium led by RBS into which also enter Belgian Fortis and Spanish Santander, on purchase of all actions ABN Amro for 71 mlrd the euro operates from July, 23rd till October, 5th of this year