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Last Updated: Sunday, 22 April 2007, 10:50 GMT 11:50 UK
Barclays 'about to bid' for ABN
ABN Amro bank
If ABN Amro is bought it will be the world's biggest bank takeover
Barclays is widely expected to table a 36 euros ($49; 24) a share bid for the Dutch bank ABN Amro on Monday.

The bank had not previously been expected to pay more than 35 euros per share, but is reported to have found additional cost savings and revenues.

If it is successful in the takeover it will auction off ABN's US operations, according to the Sunday Telegraph.

Meanwhile, Royal Bank of Scotland is reported to have abandoned its plan to bid for ABN as part of a consortium.

The Sunday Times says that the combined bid by RBS, Fortis and Santander has been shelved because it is too complicated.

RBS chief executive Fred Goodwin is understood to be meeting ABN's management on Monday and will negotiate terms by himself, backed by financing from Fortis and Santander.

'Early days'

The consortium was understood to be able to bid up to 40 euros per share because it was planning to break up the Dutch bank.

There have been mixed messages from the Dutch Central Bank about the idea of a break-up of ABN Amro.

Speaking at a weekend meeting of EU finance ministers and central bankers in Berlin, the European Internal Market Commissioner Charlie McCreevy welcomed reassurances from the Dutch Central Bank that any takeover would be handled fairly.

"We have to wait and see the outcome of all this - it's early days yet," he said.


SEE ALSO
Dutch bank cautions on ABN bid
18 Apr 07 |  Business
Profits rise at merger target ABN
16 Apr 07 |  Business
ABN bid battle 'could go hostile'
15 Apr 07 |  Business
ABN Amro break-up 'not a problem'
09 Apr 07 |  Business
ABN Amro questions break-up plan
28 Mar 07 |  Business
Barclays man earns a record 22m
26 Mar 07 |  Business

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