AMSTERDAM — British bank Barclays PLC withdrew its takeover offer for ABN Amro Holding NV on Friday, saying not enough shareholders tendered their shares.
The concession, which had been widely expected, leaves a consortium led by Royal Bank of Scotland PLC in position to buy ABN Amro in a deal worth $99.9 billion, the largest takeover in the history of the financial industry.
I've a had a feeling that ABN would go with RBS for a few months now. The corporate ties between ABN and RBS just seemed too strong and gave RBS an added advantage over Barclays' offer. Research from NewsVisual seems to back this up.
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