TCI Break-Up Bid Puts Pressure On ABN-Barclays Deal

Apr 12 2007 | 12:25pm ET

Under pressure from hedge fund The Children’s Investment Fund, Barclays and ABN Amro are scrambling to put a deal together to preempt TCI’s drive to break up the Dutch investment bank.

ABN is holding exclusive merger talks with Barclays, with the exclusivity period schedule to end on Wednesday. Both sides expect a slew of hostile bids after a deal is announced, but the real deadline is April 26. That’s when both banks hold their annual shareholder meetings, and ABN will face two resolutions, pushed by TCI, calling for it to be split up.

The exclusive talks with Barclays have further angered TCI, which has been highly critical of ABN’s share price performance.

According to published reports, full terms of any deal—assuming one is reached—may not be disclosed when it is announced. While both sides hope to make some sort of announcement on April 18, an agreement is reportedly far from completed.


In Depth

JOBS Act Propels Real-Estate Crowdfunding Platform

Oct 21 2014 | 2:57am ET

If D.J. Paul were a real estate development, he would be described as “multi-use...

Lifestyle

Strippers Accused Of Robbing Hedge-Fund Manager Face Jail

Oct 20 2014 | 9:20am ET

A group of alleged stripper-thieves—whose victims include a hedge-fund manager...

Guest Contributor

PAAMCO: European Equity Exposure - Challenging Year, But All is Not Lost

Oct 16 2014 | 4:12am ET

European equity hedge fund managers have had a tough time so far this year. The...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.