Dutch Ruling Favors Shareholder Rights
Posted May 4, 2007 8:50 AM CST
By Debra Cassens Weiss
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.