Monday, September 17, 2007

Temasek Watch: The Struggle for ABN Continues

Barclays' bid for ABN has become a centre of focus every since Temasek took a stake in the British behemoth. Here's the latest news on the bidding war between Barclays and the RBS consortium.

"The ABN Amro board told shareholders Sunday that although it is formally recommending neither a bid from Barclays nor a bid from a consortium led by Royal Bank of Scotland, it acknowledges the financial superiority of the latter offer. ABN CEO Rijkman Groenink told a Dutch news show he expects the consortium bid to win the day. The board said it views Barclays' all-share offer as more congruent with ABN's strategy but cannot recommend it over the consortium's €70.2 billion ($97.4 billion) bid, which is 19% richer at current prices and contains a cash component." read more @ SeekingAlpha.

Other News: Temasek pares down its stake in China COSCO.

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