BARCLAYS BANK IS set to become the world's fifth-largest bank by paying €90 bn (£61bn) to buy ABN Amro, the Dutch investment bank, reports The Times.
The newly-combined bank will be known as Barclays Plc and its headquarters will be based in the Netherlands, following weekend-long meetings between ABN Amro and Barclays which is offering an all-share deal valuing ABN shares at €36.25 each. The offer will be recommended to both banks' shareholders and is expected to complete by the fourth quarter of this year. However, the deal could yetstill be scuppered, suggests the Times by Royal Bank of Scotland (RBS) which, along with Santender Banco Santander, owner of Britain's Abbey, and Fortis, which has indicated its interest in buying ABN A...
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