Barclays' ABN offer period set

(Reuters) - The RBS-led consortium's offer is worth 71 billion euros and 93 percent in cash, while Barclays 65-billion-euros offer is about 38 percent in cash.




ABN shareholders can tender shares under the Barclays offer from August 7 until October 4, Barclays said in a filing to U.S. regulator the Securities and Exchange Commission late on Friday.


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Barclays deal would boost ABN board pay -SEC data

(Reuters) - The Netherlands' biggest bank is the target of a 65 billion euro offer from Barclays and a rival 71 billion euro bid from Royal Bank of Scotland , Belgium's Fortis and Spain's Santander .



ABN's management and supervisory board withdrew its recommendation to merge with Barclays on Monday, but ABN Chief Executive Rijkman Groenink said ABN still supported Barclays' offer.


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ABN withdraws backing for Barclays bid

(Reuters) - ABN originally backed Barclays when announcing a deal to merge with it in April.




But it has now effectively withdrawn its recommendation even after Barclays sweetened its offer to buy ABN last week to include more cash.


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Barclays China Deal Spurs U.S., Europe to Limit Government-Fund Investment

(Bloomberg) -- The U.S., France and Germany are
racing to draw up rules to govern developing nations' secretive
state-controlled investment funds, spurred in part by Barclays
Plc's use of Chinese and Singaporean money in its takeover bid
for ABN Amro Holding NV.

With no international body such as the World Trade
Organization to oversee such investment, officials in the U.S.
are pushing the International Monetary Fund and World Bank to set
guidelines. Germany and France, meanwhile, are urging a joint
European response.


Read more at Bloomberg Emerging Markets News

Barclays gets nod to buy stake in China trust firm

(Reuters) - London-based Barclays Bank Plc will be allowed to buy a nearly 20 percent stake in New China Trust & Investment Co., one of the country's oldest trust firms, after negotiations for more than one year between the two companies, the sources said.




The purchase will make Barclays the first foreign bank with a stake in a Chinese trust firm, while others, including Morgan Stanley and UBS , are still in talks with potential Chinese partners.


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Singapore's Temasek says to buy stake in Barclays

(Reuters) - "We are pleased to have this opportunity to invest in
Barclays," said Frank Tang, senior managing director at
Temasek.




"We look forward to supporting them in their strategy to
create opportunities for a higher level of sustainable
growth."


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Barclays "confident" of winning ABN bid battle

(Reuters) - Seegers declined to comment on a revised bid from a consortium led by Royal Bank of Scotland announced on Monday, which includes more cash.




Earlier on Tuesday, the Financial Times said that Barclays is planning to sweeten its offer for ABN after the consortium of RBS, Spain's Santander and Belgian-Dutch group Fortis raised the cash portion of its bid to 93 percent from 79 percent, valuing ABN at 71.1 billion euros.


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Next Barclays move in ABN battle worries investors

(Reuters) - A consortium of rival bidders led by Royal Bank of Scotland on Monday sweetened its already higher offer for ABN -- raising the cash portion to over 90 percent -- and investors and analysts said there were growing fears over Barclays' next step.




Barclays' current all-share bid, which has been recommended by ABN's board, is worth 65 billion euros , or around 35 euros a share, which is 10 percent lower than the RBS-led bid at 38.4 euros per share.


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FTSE climbs as RBS sweetens ABN bid; US weighs

(Reuters) - The FTSE 100 index of Britain's leading shares edged higher in choppy trade on Monday after late profit-taking in the U.S. on Friday restricted higher gains, as the takeover battle for ABN AMRO heated up.

Royal Bank of Scotland added 0.5 percent after the consortium it is leading boosted the cash element of its 71.1 billion euro bid for Dutch bank ABN. The bid is above a rival offer from Britain's Barclays.


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FACTBOX-Key facts about Barclays and ABN AMRO

(Reuters) - The deal could still be trumped by a consortium led by Royal
Bank of Scotland , however. For the latest news on
takeover saga click on [nL13181342].




The following are key facts on Barclays and ABN:


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FTSE flirts with near 7-year highs on M&A activity

(Reuters) - Britain's top share index flirted near seven-year highs on Friday, as M&A activity in banks and miners boosted an index already buoyed by upbeat U.S. trading overnight.

Barclays was up 0.5 percent as it became the more likely suitor to take over ABN AMRO after the Dutch supreme court ruled the Dutch bank could go ahead with the sale of its LaSalle unit to Bank of America.


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Dutch Supreme Court to rule on ABN's LaSalle

(Reuters) - The court ruled that ABN would have to seek shareholder approval for the LaSalle sale, which could sway the acrimonious takeover battle for ABN between Barclays against a consortium led by Royal Bank of Scotland.




Two weeks ago, Advocate General Vino Timmerman, tasked with providing Supreme Court judges with an opinion ahead of their ruling, said that ABN did not need shareholder approval for the LaSalle sale.


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Barclays says progress on ABN deal shows certainty

(Reuters) - "The progress which Barclays and ABN AMRO have made with
these filings continues to demonstrate the straightforward
nature of the Barclays offer. This gives ABN AMRO shareholders a
high degree of certainty and deliverability."




ABN has agreed to an all-share takeover by Barclays
worth about 63 billion euros , but a consortium of
three banks led by Royal Bank of Scotland is attempting
to gatecrash that deal with a higher offer.


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Lead Rises to Record in London for 2nd Day on Chinese Demand; Copper Gains

(Bloomberg) -- Lead rose to a record for a second
consecutive day in London, spurred by increased demand in China,
the metal's largest user. Nickel snapped three days of losses.

Domestic lead prices in China have climbed almost 15
percent since the beginning of June because of ``strong demand
and tight supply,'' Barclays Capital said today in a report.
Prices on the London Metal Exchange will rise to $2,900 a metric
ton in the next three months, said the bank, one of 11 companies
trading on the floor of the LME.


Read more at Bloomberg Commodities News

European Stocks May Decline; Shares of Barclays, Credit Suisse Might Fall

(Bloomberg) -- European stocks may retreat after
U.S. and Asian equities fell. Barclays Plc and Credit Suisse
Group may drop after their U.S.-traded securities declined.

France Telecom SA may be active as the French government
sells as much as 3.8 billion euros ($5.1 billion) of the nation's
largest phone company. Shares of Cumerio NV, owner of the biggest
copper smelter in southeastern Europe, may be active after
Germany's Norddeutsche Affinerie AG agreed to buy the company.


Read more at Bloomberg Stocks News

European Stocks Decline on Ifo Report; BHP Billiton, Julius Baer Slide

(Bloomberg) -- European stocks dropped for a second
day after German business confidence fell more than economists
forecast in June, adding to signs that growth in Europe's largest
economy may slow.

BHP Billiton Ltd. led mining shares lower on concern China
will raise interest rates to cool the economy. Julius Baer
Holding AG declined the most in a year after UBS AG sold part of
its stake in the Swiss Bank, thwarting takeover speculation.
Deutsche Bank AG and Barclays Plc led a decline by banks on
concern that losses in the U.S. mortgage market may grow.


Read more at Bloomberg Stocks News

UPDATE 1-Blackstone to buy India back-office firm Intelenet

(Reuters) - The deal could be valued at $200 million, the Economic
Times newspaper said, quoting unnamed sources.




Mumbai-based Intelenet, with 18 centres in India and abroad
and clients in the United States, UK, Australia and India, is
equally owned by British bank Barclays and Indian
mortgage firm Housing Development Finance Corp.
.


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UK's Barclays says ABN takeover process on track

(Reuters) - Barclays has come under pressure from some shareholders in recent days, with U.S. hedge fund Atticus Capital urging Barclays to drop the ABN bid and expressing concern it could get drawn into an "auction at inflated prices".




But Barclays Chief Executive John Varley reiterated on Tuesday that the ABN offer provided "significant and sustained value for shareholders".


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Barclays settles insider trading charges

(Reuters) - In court documents filed in New York, the SEC alleged that Barclays and Steven Landzberg, the former head proprietary trader for Barclays' U.S. distressed debt desk, illegally traded millions of dollars of bond securities between March 2002 and September 2003, based on material, nonpublic information received through bankruptcy creditor committees.




Barclays and Landzberg agreed to the settlements without admitting or denying the allegations, the SEC said.


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