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| Version 1 | Version 2 |
|---|---|
| RBS outlines offer for ABN Amro | RBS outlines offer for ABN Amro |
| (about 3 hours later) | |
| A group led by Royal Bank of Scotland has outlined a proposed offer for ABN Amro which values the Dutch bank at 71.1bn euros ($95.6bn; £48.2bn). | A group led by Royal Bank of Scotland has outlined a proposed offer for ABN Amro which values the Dutch bank at 71.1bn euros ($95.6bn; £48.2bn). |
| It is a rival to the all-share agreed offer from Barclays Bank, which is currently valued at 63bn euros. | It is a rival to the all-share agreed offer from Barclays Bank, which is currently valued at 63bn euros. |
| The interest from the consortium, which includes Belgium's Fortis and Banco Santander of Spain, has so far been rebuffed by ABN Amro's management. | The interest from the consortium, which includes Belgium's Fortis and Banco Santander of Spain, has so far been rebuffed by ABN Amro's management. |
| The offer depends on ABN shareholders rejecting the sale of US unit LaSalle. | The offer depends on ABN shareholders rejecting the sale of US unit LaSalle. |
| ABN plans to sell LaSalle to Bank of America, but a Dutch court has ruled that it should not do so without consulting its shareholders. | ABN plans to sell LaSalle to Bank of America, but a Dutch court has ruled that it should not do so without consulting its shareholders. |
| Shares fall | |
| Shareholders' groups said that the sale of LaSalle was designed to prevent RBS making a higher offer for the whole of LaSalle and so was not in their interests. | Shareholders' groups said that the sale of LaSalle was designed to prevent RBS making a higher offer for the whole of LaSalle and so was not in their interests. |
| The 38.40-euros-per-share proposed offer from the RBS consortium is made up of 30.40 euros cash plus 0.844 new RBS shares for each ABN share. | The 38.40-euros-per-share proposed offer from the RBS consortium is made up of 30.40 euros cash plus 0.844 new RBS shares for each ABN share. |
| The statement from the consortium said that its offer would lead to fewer employees losing their jobs than under Barclays' proposals. | The statement from the consortium said that its offer would lead to fewer employees losing their jobs than under Barclays' proposals. |
| RBS shares in London fell 2% in London in morning trading. |