ABN Amro's sale of its U.S. arm LaSalle Bank to Bank of America was lawful, the Dutch Supreme Court ruled Friday, overturning a lower court's blocking of the proposed $21 billion sale. It was not immediately clear how the ruling would affect the broader fight over all of ABN Amro Holding. Royal Bank of Scotland, which leads a consortium bidding on ABN Amro, had argued that the LaSalle sale should have been put to a shareholder vote, but the court said that shareholders' interests don't always come first.
July 16, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
ABN Amro’s sale of its U.S. arm LaSalle Bank to Bank of America was lawful, the Dutch Supreme Court ruled Friday — overturning a lower court’s move blocking the proposed $21 billion sale.
It was not immediately clear how the ruling would affect the broader fight between Barclays PLC and a consortium led by Royal Bank of Scotland PLC over competing bids for all of ABN Amro Holding NV.
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