Saturday, April 28, 2007
The Dutch shareholders' association VEB filed suit earlier this week against ABN Amro to enjoin the $21 billion sale of LaSalle Bank to Bank of America unless a shareholder vote is held. Details of the sale and bidding war between Barclays and a Royal Bank of Scotland-led consortium for ABN Amro are here. The Enterprise Chamber of the Amsterdam Court of Appeal held a hearing today, and according to media reports will issue a decision this Thursday. Details of the hearing as reported by the Financial Times are here. Given ABN Amro's egregious attempts to sway the bidding for ABN Amro towards Barclays, my bet is on the Dutch form of an injunction.