Under the revised plan, the banks will offer a total consideration of E71.1 billion. Approximately 93%, or E66 billion, of the proposed consideration will be payable in cash, while the remaining 7%, or E5 billion, will be funded by new Royal Bank of Scotland (RBS) shares. The banks have also decided to remove all pre-conditions attached to the LaSalle situation.
However, the bid will be conditional on ABN Amro not having made or agreed to make any acquisitions or disposals of a material part of its business or assets, with the exception of LaSalle.
Prior to the Dutch ruling, the consortium was offering the Dutch bank E71.1 billion, with only a 79% cash offering. This bid was conditional on LaSalle remaining with ABN Amro.
Approvals for the transaction have already been received from a number of regulatory authorities, including the UK Financial Services Authority.
