ABN-Amro rejects LaSalle bid

 

ABN-Amro has rejected the over USD 24 billion offer from a consortium led by the Royal Bank of Scotland for its US arm LaSalle Bank.

The bank however said that it would put the offer and other proposals to a shareholder vote.

In a statement ABN-Amro said that the RBS offer is not superior to the one made by the Bank of America, as the consortium's financing, as well as various regulatory, tax and legal issues carried uncertainty and execution risks.