There they go again. One of the reasons used by the board of ABN-Amro to criticise the alternative consortium bid, was because they did not have a clear idea of how it was going to be financed, putting into question the solvency of three of the world´s biggest banks.
Then they hire four advisers, so that the others won´t be able to use them and then they get upset when they see the possibility that these advisors participate in the financing of one of the bidders.
Shouldn´t the ABN-Amro board be happy that the alternative bid has clarity on the financing and so they can offer to their shareholders a credible alternative?
Is it really a problem that the advisers to the company assist the bidders to provide solid offers from which shareholders can pick and choose?
ABN-Amro directors have once again failed their shareholders and, not for the first time, I say they should go!
Onésimo Alvarez-Moro
See article:
The battle for ABN Amro again spilled over into acrimony on Monday when the consortium led by Royal Bank of Scotland claimed the Dutch bank’s advisers had offered to help finance its €71bn break-up bid.
The accusation, denied by all the investment banks concerned, underlined the tension between ABN Amro and the consortium, which is expected to decide in the next two weeks whether to launch a formal offer.
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