ABN Amro wants LaSalle peace deal: FT

ABN Amro wants the Royal Bank of Scotland-led consortium and Bank of America to resolve their dispute over the ownership of LaSalle to end the legal confusion surrounding the takeover battle for the Dutch bank, the Financial Times reports on Friday.

The paper says the RBS consortium held discussions with Bank of America last week on a deal that would see them carve up ABN Amro’s US division.
Though the talks broke down, the Financial Times says ABN Amro is keen for the discussions to resume because a deal is seen to be the best way of avoiding a long legal battle.
Sources told the paper that the two sides were discussing a deal whereby Bank of America would complete its purchase of LaSalle for $21bn, but would agree to sell some of LaSalle’s assets to RBS if the consortium’s €71bn bid for ABN Amro succeeded.
In return, Bank of America would drop a lawsuit claiming billions of dollars in damages from ABN Amro, the paper said.
The consortium and UK bank Barclays are both competing to take over the Dutch market leader.

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