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Dutch Ruling Favors Shareholder Rights

Posted May 4, 2007 9:50 AM CDT
By Debra Cassens Weiss

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A Dutch court has halted the sale of LaSalle Bank by ABN Amro Holding NV until shareholders can vote on it.

The ruling benefits a banking consortium seeking to make a rival bid for ABN and its bank, according to the Wall Street Journal (sub. req.). ABN wants to sell LaSalle Bank to Bank of America Corp. to sweeten a $90 billion agreement to be taken over by Britain's Barclays PLC.

Some analysts told the New York Times the ruling will add fuel to a European movement for increased shareholder rights.

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