Barclays has approached Holland’s biggest bank ABN Amro about an 80 billion pound merger and the two are expected to announce this morning that they are in early stage talks, according to British newspaper The Independent on Monday.
The paper says Barclays made its approach last month after hedge fund TCI launched an attack on the Dutch bank, calling on it to split up or sell off units.
The British paper said several other European banks were also thought to be interested in ABN Amro, including Spain’s BBVA and France’s BNP Paribas.
The Financieele Dagblad reported on Monday that sources at ABN Amro said the bank was open to a ‘white knight’.
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