Page 10 - RBS – ABN takeover
P. 10
On 5th May, the consortium went on to • … is a leading international bank with origins
going back to 1824.
the attack and launched its hostile bid • … is headquartered in Amsterdam, the
Netherlands.
• … have more than 4,500 branches in 53
for ABN itself. The consortium bid was countries.
• … has a staff worldwide of more than
25 times ABN’s current annual 105,000 full-time equivalents.
• … is listed on Euronext (Amsterdam, Brussels
earnings. and Paris) and the New York Stock
Exchange.
• … aims to create value for its clients.
Corporate Values (Integrity, Teamwork,
Rijkman Groenink and his board Respect and Professionalism) underlie the
bank's Business Principles and both provide
the framework within which it conducts its
argued that the Barclays takeover was daily work.
• … has one global tag line: 'Making more
more consistent with ABN's own possible'.
Financial information
strategy and that while the consortium
• Total operating income EUR 22.658
bid was worth more money, it also 2006: billion
• Net profit attributable to EUR 4.715
shareholders 2006: billion
carried greater risk. His concerns • Earnings per share 2006: EUR 2.50
• Total assets (as at 31 EUR 987 billion
focussed on: December 2006):
• Group capital (as at 31 EUR 45.1 billion
December 2006):
• a lack of transparency on the • Ordinary shares issued (at 1,877.9 million
end 2006):
• Full year dividend 2005: EUR 1.10
part of the consortium’s
• Ranks eighth in Europe and 13th in the world
proposals e.g. its financing and based on total assets.
• ABN AMRO's goal is to be in the top five of its
deliverability given the peer group at the end of every four-year
cycle.
• ABN AMRO has also adopted a financial
regulatory risk. target of 20% average return on equity over
the period 2005—2008.
• concerns whether the
consortium, especially Fortis, could fund the takeover in the uncertain
market conditions.
In June, it emerged a "tartan mafia" of Scottish fund managers, including
Standard Life Investments, Scottish Widows and Baillie Gifford, held the future of
