ABN Amro and shareholders in court, again

ABN Amro and shareholders lobby group VEB are in court again on Thursday, this time over VEB charges of mismanagement.

The company court is being asked to rule on VEB calls for an investigation into ABN Amro’s management of events around the takeover battle. It claims ABN Amro was not sufficiently open to other potential bidders as well as Barclays.
News agency ANP says the case cannot effect the outcome of the takeover because if the court rules for an investigation, it will take some two years to complete.
Even though ABN Amro has now withdrawn its formal recommendation that shareholders accept the Barclays bid, the VEB said it was pursuing the case as a matter of principle.
In an earlier case brought by the VEB, the company court ruled that ABN Amro could not sell its LaSalle banking unit without shareholder approval. That decision was overturned on appeal.

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