Soon we will be witnessing the merger of Barclays Bank with ABN Amro. In order to make it a reality the bank is working to settle legal disputes over money transfers and has already received the green signal from Dutch regulators for the takeover. ABN is looking forward to settle fines of the 90s and current ones with the US Department of Justice. In order to smoothen the process of merger the bank has already paid out $80 million to the US Federal Reserve and Dutch Central Bank. If the merger process gets through it will result in the creation of the fifth largest bank in the world.
It is expected that Barclay might offer £23 for the struggling ABN Amro and both the banks are currently working to arrive at an agreement with regards to the final pricing. In order to know about the final decision we will have to wait till 26th of April when the annual meeting of both the banks will be held. If the merger take place it will offer relief to ABN Amro which has been struggling for a while due to various legal suites.
Via telegraph
