Fortis wins backing for ABN buy in Brussels

(Reuters) - Fortis is holding the shareholder meetings to secure backing
for its part of a 71 billion euro joint bid for ABN AMRO with
Royal Bank of Scotland and Spain's Santander .




Read more at Reuters.com Mergers News

European Stocks Decline, Led by Royal Bank of Scotland, Man Group, Valeo

(Bloomberg) -- European stocks had their biggest
weekly decline in almost five months on mounting concern
financing difficulties in the credit markets will stifle mergers
and acquisitions.

Royal Bank of Scotland Group Plc and Man Group Plc led a
drop in financial shares today. Valeo SA, Europe's third-largest
maker of car parts, and computer-services company Cap Gemini SA
slipped after earnings missed analysts' estimates.


Read more at Bloomberg Stocks News

UPDATE 1-Eagle Bulk buying 26 Supramax vessels for $1.1 billion

(Reuters) - The company plans to fund the deal from a new proposed $1.6
billion revolving credit facility led by Royal Bank of Scotland
Plc.




Eagle Bulk said 21 of the vessels being acquired are under
long-term charters up to 2018. Minimum contracted revenue on
the chartered vessels is about $1 billion.


Read more at Reuters.com Bonds News

DealTalk: Blackstone finds another way to benefit in China

(Reuters) - Not only did it find a wealthy new investor and position itself for deals in the world's most populous nation, but also the deal raised the profile of its M&A advisory business by leading to a highly visible role of advising the Chinese government on the acquisition of a stake in Barclays .




In doing so, Blackstone links its name to what is likely to be the year's biggest deal -- the sale of Dutch bank ABN AMRO . Barclays has used the investment from China to help increase its bid to 67.5 billion pounds in a battle with a rival group led by the Royal Bank of Scotland .


Read more at Reuters.com Mergers News

Manchester United Postpones Refinancing, Shelves Bonds Backed by Tickets

(Bloomberg) -- Manchester United Plc, the world's
fourth-largest soccer club by revenue, postponed plans to
refinance 660 million pounds ($1.4 billion) of debt as U.S.
subprime mortgage losses roil credit markets.

The English Premier League champions, owned by U.S.
billionaire Malcolm Glazer, called off preliminary talks with
JPMorgan Chase & Co. to refinance debt, according to a person
familiar with the transaction, who declined to be named because
the discussions are private. It also shelved discussions with
Royal Bank of Scotland Group Plc and Deutsche Bank AG to sell
bonds backed by ticket sales, the person said.


Read more at Bloomberg Bonds News

Barclays Raises ABN Offer to $93.4 Billion With China, Singapore Funding

(Bloomberg) -- Barclays Plc, vying to buy ABN Amro
Holding NV in the biggest banking takeover, raised its offer to
67.5 billion euros ($93.4 billion) after securing investments
from the governments of China and Singapore.

Barclays's revised bid is worth 35.73 euros a share and
includes 37 percent cash, the London-based company said today,
4.3 percent more than its previous offer. The bid remains lower
than the 38.40 euro-a-share offer made last week by a trio of
banks led by Royal Bank of Scotland Group Plc.


Read more at Bloomberg Emerging Markets News

RBS-led group launches 71 bln euro ABN takeover

(Reuters) - A consortium led by Royal Bank of Scotland said on Friday it had formally launched its 71.1 billion euro bid for Dutch bank ABN AMRO as it attempts to beat rival suitor Barclays to the biggest ever bank takeover.

The consortium, which also includes Spain's Santander and Belgian-Dutch group Fortis, said the initial offer period would run from July 23 until October 5.


Read more at Reuters Africa

UPDATE 1-Barclays 'confident' of winning ABN bid battle

(Reuters) - Seegers declined to comment on a revised bid from a consortium led by Royal Bank of Scotland announced on Monday, which includes more cash.




Earlier on Tuesday, the Financial Times said that Barclays is planning to sweeten its offer for ABN after the consortium of RBS, Spain's Santander and Belgian-Dutch group Fortis raised the cash portion of its bid to 93 percent from 79 percent, valuing ABN at 71.1 billion euros.


Read more at Reuters.com Market News