Word: abn
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Dates: during 2000-2009
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...said carrying off the biggest banking deal in history would be easy, but the ongoing, three month-long tug of war for ABN Amro trumps most takeover bids for drama. While rival European lenders have swooped for the Dutch bank in recent months, activist shareholders and even the Dutch courts have intervened in a drawn out saga offering no shortage of twists and turns...
...latest twist has been a doozy. On Monday, Barclays announced that China Development Bank (CDB) and Temasek, an investment group owned by the Singapore government, had agreed to invest $5 billion in Barclays now in support of its bid for ABN, and up to $18.6 billion if the takeover is successful...
...ABN Amro Amsterdam...
...what would be the largest financial-services merger ever, Britain's Barclays PLC bid for the Netherlands' largest bank, ABN Amro NV, for $91.16 billion. The result: a worldwide banking giant with 47 million customers...
Development experts also worry that the stream of international money supporting microfinance is crowding out locally owned banks that might serve the poor. Citigroup, ABN Amro and HSBC, for example, have pumped a combined $200 million into microfinance groups that offer saving accounts, insurance and mutual funds. This influx of capital is "preventing the creation of a sustainable, savings-based financial system in poor countries," says Littlefield. Microlenders counter that the costs of starting a bank are so high that without them, the poor would have no alternative. "To build a bank in Africa, you need $5 million to start...