The timing is quite delicious. Back in November, according to remarks attributed to an ABN Amro spokesman, it was agreed that a string of ABN executives, led by chief executive Rijkman Groenink, would make a series of share purchases.
For some reason — so far unspecified — the purchases were planned for the second week of March this year. So, on March 14, Mr Groenink acquired 8,600 shares at $26.85, with other execs buying at the same price.
Three days later it emerged that ABN was in talks to be taken over by Barclays — news that has since added more than €4 to ABN’s share price. Indeed. it has since become clear that ABN has spent at least a month talking to a number of potential suitors.
Of course the very sums involved negate any suggestion of impropriety. Doesn’t look good, though.