Fortis wins backing for ABN buy in Brussels

(Reuters) - Fortis is holding the shareholder meetings to secure backing
for its part of a 71 billion euro joint bid for ABN AMRO with
Royal Bank of Scotland and Spain's Santander .




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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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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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European Stocks Advance, Led By ABN Amro, Banks; Saipem, Technip Decline

(Bloomberg) -- European stocks rose, led by ABN Amro
Holding NV after Royal Bank of Scotland Group Plc sweetened its
71.1 billion-euro ($98.1 billion) offer for the Dutch lender.

ABN Amro jumped the most in three months. BT Group Plc, the
U.K.'s largest phone company, and drugmaker GlaxoSmithKline Plc
climbed after brokerages lifted their recommendations on the
shares.


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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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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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Arcelor Mittal Postpones Bond Sale in Euros Because of Market Volatility

(Bloomberg) -- Arcelor Mittal, the world's biggest
steelmaker, postponed a bond sale because of market volatility,
according to an e-mailed statement from Commerzbank AG, one of
the banks managing the sale.

Arcelor Mittal last week hired Commerzbank, Citigroup Inc.,
Calyon and Royal Bank of Scotland Group Plc to manage the sale of
five- and 10-year fixed-rate bonds in euros. The steelmaker
planned to issue the debt through its Arcelor Finance unit.


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Yen near record low vs euro, dogged by low yield

(Reuters) - Robust global growth, buoyant stocks and renewed calm after a sell-off in major bond markets have prompted investors to borrow funds in currencies like the yen to purchase higher-yielding currencies such as the Australian and New Zealand dollars.




"Carry trades are the underlying driver of the whole move," said Luke Waddington, head of FX trading at Royal Bank of Scotland in Tokyo.


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