Barclays plans to sweeten its offer for ABN Amro with more cash after the rival Royal Bank of Scotland-led consortium on Monday revised its offer for the Dutch bank. But even as Barclays was preparing its counter-punch, it faced investor calls to walk away. The RBS consortium tabled a new €71.1bn bid for ABN and raised the cash proportion from 79 to 93 per cent, offering €38.40 per share. Lex says the “phony war” has given way to the real battle for ABN, and whatever the merits of the RBS consortium bid, it leaves Barclays in a sticky position.

This entry was posted by Gwen Robinson on Tuesday, July 17th, 2007 at 5:47 and is filed under Capital markets, M&A. Tagged with abn amro, barclays, rbs. Edit this entry.