How can it be that a management of a company can make a decision that clearly and deliberately serves to put in danger an alternative offer for their company, than the preferred option of the management.
The decision to sell LaSalle bank in the US knowing that the alternative bidder would withdraw if this deal goes through, is a clear attempt to manipulate the situation and to deny shareholders their full rights.
This is not surprising, as current ABN-Amro management have shown themselves willing to ignore the wishes of their shareholders in the past and this is just another demonstration of that attitude.
The best thing about any of the bids on the table is that we will see the back of most of ABN-Amro´s existing management.
If Barclays is successful in its bid, its shareholders would be well advised to remove any Directors from ABN-Amro, as they can be sure that shareholder interests are not forefront in their minds.
Onésimo Alvarez-Moro
See article:
ABN Amro on Wednesday night agreed to open its books to a consortium of European banks that earlier in the day proposed a €72bn (£49bn, $98bn) break-up bid for the Dutch lender which trounced an agreed offer from Barclays.
The Dutch bank’s board had been under intense pressure from shareholders to allow Royal Bank of Scotland, Santander of Spain and Fortis, the Belgo-Dutch banking and insurance group, access to its accounts after the trio unveiled the outline of a proposed €39-a-share offer, most of which would be in cash.
ABN said it had agreed to allow due diligence on the same terms as it had granted Barclays following the British bank’s €66bn bid.
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